A.T.&T. pressures NCR board; says it is willing to pay $100 a share for a friendly deal
Article Abstract:
AT and T is willing to offer $100 a share for the acquisition of NCR Corp if the computer maker enters friendly merger agreements. NCR's response to the telecommunications giant was that it believes it can do better than that offer. The company expressed some distress over the manner in which AT and T proposed the new deal; AT and T sent out a news release of the offer and then called up NCR to inform them. The $6.77 billion offers is contingent on NCR entering negotiations and since NCR rejected the gesture, AT and T indicated that it was going back to its original $90 a share offering.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1991
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Chemical leads bank group aiding hostile A.T.&T. bid
Article Abstract:
AT and T's hostile $90 a share bid for computer maker NCR Corp is being buoyed by $600 million in financing by Chemical Bank. The amount needed for a takeover exceeds $6 billion and Chemical Bank is helping AT and T develop a syndicate of banks to finance the hostile takeover. Investors are confident that AT and T will eventually succeed with its plan to take over NCR and believe it will pay a price higher than the $90 a share tender offer made on Dec 3, 1990. NCR stock closes at $92.75 a share on Dec 6, 1990, up $6.125 a share for the day.
Publication Name: The New York Times
Subject: News, opinion and commentary
ISSN: 0362-4331
Year: 1990
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- Abstracts: NCR board said to reject A.T.&T.'s $90-a-share offer. Banks pledge $6 billion to avoid bid by A.T.&T. Strategies in the A.T.&T. offer: NCR's stock jumps; company expected to seek higher price
- Abstracts: Coming to the rescue of a computer business: A.T.&T.'s efforts have been marked by missteps and failed expectations