Dataproducts Sues Bidder: Dataproducts Corp., facing a...
From Times Staff and Wire Reports
Dataproducts Sues Bidder: Dataproducts Corp., facing a hostile, $190-million takeover attempt by the investor group DPC Acquisition Partners, filed suit in Delaware Chancery Court to block the bid. Dataproducts, a Woodland Hills-based maker of computer printers, alleged that DPC’s bid violates a “standstill agreement” that the parties signed in May. DPC is seeking stockholder consent to oust Dataproducts’ directors and has launched a $10-a-share tender offer. DPC officials were unavailable for comment, but last week the group filed its own suit in federal court to nullify the standstill agreement.
