Stake Increased: General Automation, the struggling Anaheim...
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From Times Staff and Wire Reports
Stake Increased: General Automation, the struggling Anaheim computer vendor, said Thursday that Sanderson Electronics PLC of the United Kingdom has increased its stake in the firm from 35% to 49%. Sanderson exercised warrants and loan conversion rights it received when it agreed to provide up to $4 million in financing to General Automation in December, 1988. General Automation has recently begun to turn a small profit after years of heavy losses.
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