AT&T; Solicits NCR Shareholders: The telecommunications giant...
From Times Staff and Wire Reports
AT&T; Solicits NCR Shareholders: The telecommunications giant took its first official step in a previously announced hostile takeover drive for the Dayton, Ohio, computer company by asking the shareholders to demand a meeting of board members. The owners of 25%, or nearly 16.3 million NCR shares, must demand the special meeting, where AT&T; would seek to oust the current NCR board majority and install replacements receptive to its $90-per-share cash bid. That board would then be asked to nullify NCR’s anti-takeover defenses, making way for an AT&T; merger.
