Surely no tears from Barack Obama or Elizabeth Warren, because...well, it's not like it was built by itself
Fender Musical Instruments, which produced guitars strummed by the likes of Buddy Holly and Eric Clapton and famously set on fire by Jimi Hendrix, said late Thursday that it dropped its plans for an initial public offering.
The news came amid a handful of successful IPOs, prompting speculation about the reasoning behind Fender's decision.
Fender CEO Larry Thomas said current market conditions and Europe's economic woes wouldn't support an IPO that values the company appropriately.
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