AT&T is ready to offer NCR $100 a share; target refused to conduct weekend merger talks as proxy fight nears

Article Abstract:

AT and T prepares to offer $100 a share, or $6.8 billion, to take over NCR Corp but the computer manufacturer refuses to hold merger talks. AT and T leaves its $90-a-share offer on the table and indicates that it will offer $100 a share if NCR agrees to merger talks. A proxy challenge is expected to take place on Mar 28, 1991, at NCR's annual meeting. AT and T Chmn Robert Allen indicates that they are trying to break an impasse before the proxy challenge. NCR Chmn Charles Exley Jr indicates that AT and T should offer a serious proposal in writing instead of 'posturing in the media.' He also suggests that AT and T wants to give NCR shareholders as little as possible.

COMMUNICATION, Telecommunications services industry, Telecommunications industry, T, NCR Corp., NCR, American Telephone and Telegraph Co., Stock, Takeovers

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IBM plans to keep some printer lines from buy-out pact

Article Abstract:

IBM has removed some printers from its preliminary agreement to sell most of its office product businesses. The move involves only a small part of the $2.3 billion sale, and no problems are foreseen in negotiations toward a final agreement. Other factors, including a deteriorating economic outlook, have slowed the talks. There is even speculation that the deal could come apart if lending conditions worsen. According to an IBM spokesman, the decision about the printers was made because four intermediate printers did not fit well with other businesses in which the buyout firm - Clayton & Dubilier - is to purchase an 80 percent to 85 percent interest.

Computer and Office Equipment, Misc. business credit institutions, Investments, Computer peripherals industry, Printers, Clayton & Dubilier Inc.

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Sale of IBM's low-tech lines being weighed; talks on $3 billion buy-out said to be under way with potential suitor

Article Abstract:

IBM is considering the divestment of low-technology business in a leveraged buyout that could total $3 billion. The latest move by IBM represents the company's efforts to get out of marginal businesses, including electric typewriters, low-end printers and keyboards, since it cannot make some of the low-profit-margin products as inexpensively as its competitors can. The possible buyer's name could not be identified but the current plan provides for a leveraged-buyout, with some employees getting equity. An agreement may be announced by the end of Jul 1990. IBM stock closed on Jul 17, 1990 at $120.75 a share, down $1.625.

Office Equipment

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