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Originally Posted by Escapee
Firstly I am not taking any notice of idle gossip here!
I just wanted to point out as a side issue, that I worked for a publicly listed company that was bought by another publicly listed company. I like many other employees could tell you we found out when an employee read it as an announcement on Teletext during the working day! 
I remember one of the local managers phoning the regional manager who knew nothing about it, in turn he phoned the general manager who knew nothing, he phoned a director and the director firstly denied it but then phoned back to confirm it as fact.
I am not trying to put any fuel on the fire of any silly claims in this thread, but just pointing out that employees, even senior managers can be some of the last people to know especially in quite large companies when such a deal is underway. |
It was very much the same when I (well, my employer) got bought out five years ago. This actually serves to illustrate the point I was making. Dealings of this kind, where one or both parties are listed, must of necessity be top secret until they are announced officially. And when they are announced officially, that announcement has to be made to the stock exchange. It's the law, pure and simple. I work in employee communications so I'm aware that teletext, radio, whatever can often be the place the staff eventually find out, but this is simply because once the initial announcement is made in the City, or Wall Street, or wherever, the mass media often gets the message out faster than a company's in-house communications team can.