Advertisement

Bulk of Stock Tendered: Prime Computer shareholders...

Share

Bulk of Stock Tendered: Prime Computer shareholders have tendered more than 66% of the company’s outstanding stock to MAI Basic Four Inc. under a $20-per-share hostile takeover bid, MAI announced. The $970-million tender offer is still blocked by a U.S. District Court, but Tustin-based MAI said this week it was preparing to satisfy the sole remaining condition for ending the injunction by mailing Drexel Burnham Lambert’s year-end financial statements to all Prime stockholders.

Advertisement