AT&T to sell NCR shares for $650 million; sale, tied to takeover pact, will give Capital Group 1.6% of phone company

Article Abstract:

AT and T will sell its NCR Corp shares to Capital Group Inc for $650 million. The deal, which is expected to give Capital Group a 1.6 percent ownership in AT and T, is tied to the pending NCR takeover scheduled to close in Sep 1991. The sale agreement involves 6.3 million shares of NCR priced at $102.75 a share, which is a five percent discount from the $108.125 a share the stock was selling at on Aug 29, 1991. AT and T plans to pay $110.75 in its own stock for each of NCR's 63 million shares in the merger. NCR will issue its own stock after the merger, which industry observers note will give AT and T preferred accounting treatment.

Telephone communications, exc. radio, Finance, Telecommunications services industry, Telecommunications industry, Telephone companies, Investments, Securities, Capital Group Inc., Telephone Company, Stock, Merger

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AT&T to buy Teradata Corp. in stock swap; deal valued at $520 million may provide NCR unit an 'expertise injection.'

Article Abstract:

AT and T makes a move to acquire Teradata Corp after Teradata reaches an agreement with AT and T's subsidiary, NCR Corp. Teradata is known for its expertise in massive parallelism and the acquisition is seen as being technologically beneficial to NCR and to AT and T's overall computer market strategy. NCR decided to act because Teradata was moving to terminate an agreement in which NCR had a 9.4 percent stake in the company. The acquisition will consist of a stock swap. Teradata stock rose $5.125 a share on Dec 2, 1991, closing at $28.875 a share in heavy over-the-counter trading.

Computer integrated systems design, Planning, Mergers, acquisitions and divestments, Parallel processing, Computer Industry, Acquisition, Massive Parallelism, Teradata Corp., TDAT, Subsidiary Company

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