Mastech purchases competitor
Article Abstract:
Mastech, a supplier of technological and computer expertise to a roster of corporate clients, has announced it agreed to buy Quantum Information Resources of Toronto, Ontario, for $28.8 million in stock. The deal marks the second acquisition of a foreign company for Mastech, which also announced in April 1998 that it was buying MC Computer Services, based in Canberra, Australia. Mastech is hoping that its acquisition of Quantum Information will expand its economic reach and at the same time reduce its political exposure in the US. Under the deal, Mastech will take over Quantum's five offices in the US while Mastech's operations in Calgary, Alberta, and Toronto, Ontario, will be combined with Quantum's offices.
Comment:
Announces it agreed to buy Quantum Information Resources of Toronto, Ontario, for $28.8 million in stock
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Court denies Allegheny Energy suit
Article Abstract:
Allegheny Energy's request that DQE be ordered to give the company 10 days notice before making any major corporate decisions regarding their contested merger has been rejected. US District Judge Robert J. Cindrich believed that it is not in the best interest of the public that the court intervene right away in the merger dispute between DQE and Allegheny Energy. Despite being rejected over its request for a preliminary injunction, Allegheny Energy will forge ahead with its suit asking the court to order that its $4.3-billion merger with DQE continue as planned. DQE, which called off the deal in the spring of 1997, contended that the court should let the merger be cancelled.
Comment:
Its request that DQE be ordered to give notice to the co before making any busn decisions about their contested merger is denied
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Fore stock sinks 22%; acquisition is blamed
Article Abstract:
Fore Systems, based in Warrendale, PA, saw its stocks dropped by 22% due to its $250-million acquisition of Berkeley Networks, a small California startup. The transaction is believed by Fore officials to provide the company with a more complete line of networking equipment to small, medium and large customers. Under the deal, Fore will issue 8.475 million shares and grant 607,000 options in exchange for Berkeley's shares. Berkeley shareholders will be paid up to $30 million if Fore meets certain product and revenue goals./
Comment:
Sees its stocks drop by 22% due to its $250-mil acquisition of Berkeley Networks, a small California startup
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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