 The Clarinet BBoard
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Author: William Hughes
Date: 2002-02-13 17:51
According to today's Daily Telegraph, US based piano maker Steinway is understood to have pulled out of the auction to acquire Boosey & Hawkes. The paper reports there are just four bidders left in the running with offers in the range of £100m, including debt.
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Author: GBK
Date: 2002-02-13 18:19
Steinway pulling out could be a good thing.
Some of us had the disturbing thought of seeing an "Ivoryline" clarinet by Buffet...GBK
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Author: Rob
Date: 2002-02-13 22:43
Remember, Steinway already owns Selmer. A purchase by Steinway could have had a significant impact on the market for mass-produced clarinets. Also bear in mind that just because Steinway pulled out, it doesn't mean they will stay out. I read the story in the Daily Telegraph and it stated that the company may yet be sold as two separate divisions. It is possible Steinway was not interested in the publishing business and may be playing a waiting game to see if the split sale offer comes to pass. Another possibility is that since the majority of the bidders appear to be primarily in the publishing end of the business. Steinway may also have removed themselves to keep from driving up the price along in the hope that the buyer spins off the instrument division at a lower price, if in fact, the instrument division is what they actually want. I suspect this may be true because it appears to be in line with their corporate goals
This posting is not meant to constitute finacial planning or investment advice. It also does not consititute in any way an analysis of the state of the bidding or bidders current, future or past. All statements are based on speculation only and not to be taken as fact.
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Author: JMcAulay
Date: 2002-02-13 23:33
Rob, that's an absolutely excellent non-analysis. I would suspect your speculation to be valid.
One thing, though... isn't it only Selmer USA that's owned by Steinway?
Regards,
John
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Author: chuck
Date: 2002-02-14 00:17
GBK: Look at the bright side. We could wind up with a couple more octaves, thus obviating the need for a Bassett Clarinet to do justice to the Mozart, and intonation problems would disappear . . . we could tune each note with a little socket wrench. Chuck
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Author: A David Peacham
Date: 2002-02-14 08:13
It is only Selmer USA that is owned by Steinway. Selmer Paris is quite separate, though the companies cooperate over marketing and avoid competing in their instrument ranges.
Of course, if Steinway were to acquire Buffet, it might put the Selmer/Selmer cooperation at risk. Remember also that Buffet only make the R13 range and the E13; the B12 and E11 are actually made by Schreiber in Germany, another B&H subsidiary. Steinway might decide to keep Buffet as their "quality" clarinet brand and Selmer(USA) as their "economy" brand, selling Schreiber. Or anti-trust might even force them to do this.
So many possibilities - but so long as Steinway are out of the race, speculation is a bit pointless. So I'll stop.
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Author: Mike
Date: 2002-02-14 08:48
Does that mean quality & price will go down and quanitity will come up?
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Author: Mike
Date: 2002-02-14 15:30
I have one word for my journal on that............."Bugger" - An English Term
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Author: Yankeeman
Date: 2002-02-16 20:04
If Steinway owns only Selmer USA, then why does Selmer send out a catalog which includes all the Selmer instruments, both Paris and USA, and why do they each represent the other?
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Author: Mark Charette
Date: 2002-02-16 22:20
Because literally Selmer USA is the North American representative of Selmer Paris ... but they are not same company.
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