Advertisement

MAI Bid Still Barred: A federal judge...

MAI Bid Still Barred: A federal judge in Boston refused again to lift an order barring MAI Basic Four’s $1.3-billion hostile bid for Prime Computer, saying that financial disclosures made by MAI to Prime were still inadequate. Judge David Mazzone said he would lift the injunction on MAI’s $20-a-share offer 10 days after MAI’s investment bank, Drexel Burnham Lambert, sends Prime shareholders financial information about its 1988 results. The injunction has prevented MAI from proceeding with its tender offer for Prime, a Natick, Mass., minicomputer maker. Officials for MAI, a Tustin computer company, said during the court hearing that the company should be able to provide the information requested by Mazzone by May 1.


Advertisement