SCIENCE/TECHNOLOGY
Compiled by David Olmos, Times staff writer
MAI Basic Four Inc. said it has received 68.5% of Prime Computer Inc.’s shares as part of its effort to take control of the Natick, Mass., computer maker.
As of last Friday, 31.9 million common shares had been tendered to the MAI offer. The Tustin firm is trying to acquire Prime for $20 per share, or about $970 million. That total includes 1.2 million Prime shares already controlled by MAI.
MAI has conditioned its offer on receiving at least 67% of Prime’s stock. Some shareholders have withdrawn their tendered shares. Regardless of how much stock is tendered, MAI has been blocked by a court order from completing the transaction until litigation is resolved.
