Credit: Shutterstock photoFender Musical Instruments, an iconic guitar brand used by beginners, professionals and an array of top artists, withdrew its plans for an initial public offering on Thursday, citing poor market conditions. The Scottsdale, AZ-based company had planned to raise $150 million. Founded in 1946, it booked $704 million in sales for the 12 months ended 4/1/2012. J.P. Morgan and William Blair were set to be the joint bookrunners on the deal.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
