NCR Board Rejects AT&T; Bid: NCR Corp.’s...
From Times Staff and Wire Reports
NCR Board Rejects AT&T; Bid: NCR Corp.’s directors unanimously rejected American Telephone & Telegraph Co.’s $90-a-share cash tender offer as “grossly inadequate.” The move appears to set the stage for AT&T; to escalate its bid. Analysts say it may launch a proxy fight to try to unseat NCR’s directors. NCR, the nation’s fifth-largest computer maker, has in place a strong anti-takeover plan that could be removed if AT&T; gained control of the board.
