Asher B. Edelman, a New York investor, said Tuesday that he plans to seek the consent of Datapoint Corp.'s shareholders to oust Datapoint's entire board of directors.
Edelman, who owns about 11% of the San Antonio-based computer maker's stock and has already offered to buy the company, said in an interview that he wants to replace the nine directors with "a board better suited to sell or liquidate Datapoint."
If he receives enough support to replace the board, Edelman said he would withdraw his own takeover offer and work to sell Datapoint.
Regardless, Datapoint on Tuesday moved to thwart Edelman's shareholder-consent effort. The company's directors amended Datapoint's bylaws to provide that any such effort must take 90 days to complete; previously, no time period had been specified.