NCR talks said to be at impasse

Article Abstract:

Negotiations between NCR Corp and AT&T concerning AT&T's attempted takeover are at a standstill because neither side is willing to compromise on the amount it believes NCR is worth. There is bitterness between the companies, with NCR accusing AT&T of violating an agreement between NCR Chmn Charles E. Exley and AT&T Chmn Robert E. Allen not to talk about negotiations in public and AT&T responding that no such agreement exists. No new meetings are currently scheduled. NCR's stock price fell $1 a share on Apr 5, 1991, closing at $96.75. AT&T's stock was down 50 cents, closing at $34.

Telecommunications industry

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A.T.&T. set for NCR proxy fight

Article Abstract:

American Telephone & Telegraph Co plans a proxy fight in the telephone company's attempt to get control of NCR Corp, which has rejected an AT&T bid of $6.12 billion as 'grossly inadequate and unfair.' AT&T will ask NCR stockholders for a special meeting. Such a meeting requires a vote of 25 percent of the shareholders, but at such a meeting, an 80 percent vote is required to oust NCR's directors. NCR can postpone a special meeting for up to five months.

Planning, Telephone companies, Tender offers (Securities), Tender offers, Computer Industry, Telephone Company

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