Scott Walker. (photo: Bill Clark/CQ Roll Call/Getty Images)
21 April 15
och Industries is defending its acquisition of Wisconsin Governor Scott Walker against charges that it overpaid for the Midwestern politician.
After co-owner David Koch revealed that Walker had become a wholly owned subsidiary of Koch Industries, he set off a firestorm of criticism that the company had spent too much for a worthless asset.
“There was absolutely no bidding war for Walker,” an industry analyst familiar with the market value of politicians said. “Even Sheldon Adelson had no interest in acquiring him.”
While Koch Industries did not disclose the purchase price of the Walker subsidiary, it said that Koch Industries would spend nine hundred million dollars between now and November, 2016, for a variety of upgrades to the Wisconsin governor.
In a terse statement, Koch Industries argued, “Scott Walker is a perfect fit with our diversified portfolio of elected officials,” but indicated that, if Walker underperforms, the company would be open to selling him at a later date.