NCR board said to reject A.T.&T.'s $90-a-share offer
Article Abstract:
NCR Corp's board prepares to formally reject AT and T's $90-a-share cash offer. NCR's announcement, which is expected on Dec 14, 1990, will probably start a proxy battle for control of the computer company. Officials at NCR refuse to comment, and officials at AT and T indicate that they have not received any official news. NCR indicates that it has been approached by third parties that are interested in the company but insist that they wish to remain independent. NCR stock closes at $90.125 a share, and AT and T stock closes at $31 a share, on Dec 13, 1990. Some analysts believe that NCR is positioning itself to receive a $125-a-share offer from AT and T.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1990
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Banks pledge $6 billion to avoid bid by A.T.&T
Article Abstract:
AT&T secures credit for its $6 billion hostile acquisition of NCR Corp from 50 banks. Chemical Bank is putting together the entire package, which consists of financing from US and foreign companies. Investors on Wall Street believe that a prolonged struggle lies ahead for AT&T, and NCR stock prices fall for the second consecutive session, closing at $91.25 a share on Dec 10, 1990. NCR Chmn Charles E. Exley Jr indicates that NCR is not for sale under $125 a share. Some banks that have AT and T and NCR Corp as customers would not participate in the hostile takeover financing citing a policy of not financing the hostile takeover of a good customer.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1990
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Strategies in the A.T.&T. offer: NCR's stock jumps; company expected to seek higher price
Article Abstract:
American Telephone and Telegraph bids $90 a share for NCR Corp, and NCR's stock jumps $24.75, or 43.6 percent, to $81.50 a share. NCR Chmn Charles E. Exley Jr says NCR prefers to remain independent, but investors apparently believe that Exley is seeking to obtain a higher price. Robert M. Kavner, the AT&T executive managing the move to acquire NCR says price is the main issue and he hopes to negotiate a deal. AT&T's bid, set to expire at the close of business on Wed, Dec 5, 1990, is not a formal tender offer, but according to Kavner, AT&T will consider a tender offer if no agreement can be reached with NCR's board.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1990
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