NCR's shares surge by $5.25 to $102 as traders bet AT&T bet will succeed

Article Abstract:

NCR Corp's stock climbs $5.25 a share to close at $102 a share on Apr 22, 1991 after investors reacted favorably to AT and T's new offer of $110 a share. AT and T's $7.48 billion offer involves a stock swap instead of cash. The NCR board of directors indicated that it was studying the AT and T proposal; its initial reaction was that of suspicion about the volatility of AT and T's stock. Some industry analysts put the deal at closer to $107 a share given AT and T's recent performance and it forecast performance during the three months it will take to complete the merger. AT and T's stock reaches a high of $37.875 a share in Apr 1991 after retreating from its recent low of $29.25 a share.

Computer peripheral equipment, not elsewhere classified, Telecommunications industry, Stock

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NCR may seek Goldman's help against AT&T

Article Abstract:

NCR Corp is hoping that Goldman, Sachs and Co will help it fight AT and T's $6.12 billion hostile bid. NCR indicates that it will not formerly retain the Wall Street firm until the board of directors meets to discuss the $90-a-share bid by AT and T. Goldman might be able to help NCR find a white knight that would be willing to outbid AT and T but analysts agree that NCR only has until Apr 1991 to hold out. NCR indicates that $125 a share is a fair price and emphasizes that it is not negotiating with AT and T.

Services, Telephone companies, Goldman Sachs and Co., Strategic Planning, Telephone Company

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Similar abstracts:

• Abstracts: Digital's Weiss quits to join smaller firm. AT&T readies hostile NCR bid; a proxy challenge to unseat directors also is considered
• Abstracts: AT&T lifts bid for NCR to $110 a share but in stock; telecommunications giant's offer is for $7.48 billion; computer maker balks
• Abstracts: AT&T believes merger to be called pooling of interest. AT&T's bid for NCR ended debate over whether to abandon computers
• Abstracts: NCR Corp. stock soars $24.75 to $81.50 on a $6.03 billion offer from AT&T. AT&T arranges $6 billion credit for NCR offer

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