Fender Musical Denies It Is for Sale
Fender Musical Instruments, which has made guitars for generations of rock legends, denied media reports on Wednesday that it had hired financial advisors to find a buyer for the company. The Financial Times, citing people familiar with the situation, said on Wednesday that Goldman Sachs has been hired to sell the legendary guitar company, which could draw bids of up to $500 million. Reuters later ran a similar story, citing a source close to the situation. But Fender Chairman and Chief Executive Bill Schultz, who participated in a buyout of the Scottsdale, Arizona-based company by U.S. private equity firm Weston… Read more »