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Furthermore, the acquisition of
Vanstar added unrealized credits posted to Inacom's balance sheet, necessitating the requirement to restate financials, and a failure to report financials for 1999 and the first quarter of 2000. As the result of the failure to file the necessary SEC documents, existing
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The acquisition of
Vanstar reportedly added a large amount of debt, and it has been said that Inacom overpaid too much for a company of that size. Vanstar had 43.26 million shares outstanding at the time the deal was struck, and shareholders of Vanstar received .64 shares of ICO for each VST share in
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a stock swap deal, thus the issuance of 27.7 M shares of stock effectively more than doubled the number of outstanding shares while also being dilutive to the existing shares. This, plus debt concerns, led to a decline in the price of Inacom's stock.
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credit agreements were terminated and the company had difficulty in arranging new financing. Inacom's failure to file SEC documents also resulted in the New York Stock
Exchange delisting Inacom (ICO) since they no longer met listing requirements.
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severed their business partner relationship which hurt Inacom badly. On June 16, 2000, only twenty months after the acquisition of
Vanstar, Inacom filed for chapter 11 bankruptcy and terminated all employees.
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In 1997, Inacom entered the
Fortune 500 list at position 436 and remained a Fortune 500 company until 2000. Throughout this time, Bill Fairfield served as president and chief executive officer of Inacom.
345:(ICO:NYSE) was a large national seller of PC's and services based in Omaha, Nebraska, at one point being the third-largest and most profitable computer distributor in the United States.
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On
October 9, 1998, Inacom purchased Vanstar for a reported $ 465 - $ 480 million. The resulting company employed nearly 12,000 and was estimated to generate $ 7 billion in revenue.
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and
Inacomp Computer Centers Inc. ValCom Inc. was founded in 1982 by William L. "Bill" Fairfield.
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Former Omaha-based PC seller, once third-largest U.S. distributor
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On
January 4, 2000, Inacom sold their distribution business to
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353:The company created in 1991 from the merger of
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528:"Compaq buys distribution assets from Inacom"
503:"Pecos SWWHistory And Case Study Of Inacom"
53:Learn how and when to remove these messages
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230:Learn how and when to remove this message
212:Learn how and when to remove this message
110:Learn how and when to remove this message
73:This article includes a list of general
552:"Dell Computer Corporation Online Case"
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355:ValCom Inc.
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275:Predecessor
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381:Bankruptcy
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267:Industry
161:"Inacom"
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