NCR rise to $102 reflects doubt on $110 A.T.&T. bid

Article Abstract:

NCR Corp's stock rose $5.25 a share on Apr 22, 1991, and closed at $102 a share after investors showed ambivalence about AT and T's new $110 a share offer. AT and T's new offer entails a stock swap, about which the NCR board has indicated it has misgivings. NCR has indicated that it would be willing to accept the offer if its shareholders could have some protection against a drop in the price of AT and T stock. Industry observers note that AT and T is taking advantage of a four-month high in the price of its stock. The stock closed at $37.375 a share on Apr 19, 1991. AT and T's offer guarantees that NCR stockholders will receive $110 a share as long as AT and T's stock remains above $35.50 a share.

Electronic computers, Telecommunications services industry, Telecommunications industry, Securities

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AT&T to lift bid if NCR board is purged

Article Abstract:

AT&T, in its ongoing attempt to acquire computer manufacturer NCR Corp, has announced it will raise its offer to $100 per share if the shareholders vote to remove the NCR board of directors at the upcoming special shareholder meeting. The fresh offer follows the ruling of a Federal judge that the new NCR employee stock ownership plan is invalid. The plan was initiated by the NCR board in an indirect attempt to block the takeover of the company. The stock price rise is seen as another effort to lure stockholders into accepting the offer. AT&T needs an 80 percent vote at the special meeting to oust the board and therefore pave the way for the acquisition of NCR.

Planning, Acquisitions and mergers, Strategic Planning, Price, Board of Directors

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