NCR to seek talks between advisers on AT&T merger
Article Abstract:
NCR Chmn Charles Exley Jr will initiate new talks between advisers to his company and AT&T. This announcement follows an exchange of 'testy statements' between Exley and AT&T Chmn Robert Allen. Exley confirms that NCR's asking price of $110 a share ($7.48 million) is 'nonnegotiable.' AT&T has offered $100 a share (about $6.8 billion) if NCR agrees to a friendly merger. Increasing bitterness between the two chairmen underscores a lack of any progress toward an understanding. In the week of Apr 1, 1991, NCR's stock fell $2.875 a share to $96.75 on the New York Stock Exchange, reflecting the public's disappointment over the pace of negotiations.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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AT&T arranges $6 billion credit for NCR offer
Article Abstract:
AT and T obtains $6 billion of credit to help it finance a hostile takeover of NCR Corp. Chemical Banking Corp leads the 50 banks that are providing AT and T with credit required to make good on its $90-a-share offer. NCR stock prices close at $91.25 a share, and AT and T stock prices close at $29.875 a share, on Dec 10, 1990. Investors focus on NCR abilities to fend off a hostile takeover by AT&T and speculate about a rumored NCR increased credit line. NCR Chmn Charles E. Exley Jr indicates that he will not burden the company with debt to escape an AT and T takeover. NCR is still looking for a white knight but is unable to find one.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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