NCR Says AT&T; Offer Violates Law: NCR...
From Times Staff and Wire Reports
NCR Says AT&T; Offer Violates Law: NCR Corp. claims in court documents that American Telephone & Telegraph Co.’s hostile takeover offer for the computer maker violates federal law. In papers filed in U.S. District Court, NRC charges that AT&T;’s bid violates laws pertaining to bank holding companies. It contends that by offering its Universal credit card, AT&T; is acting as a bank holding company and, therefore, can’t acquire a non-bank holding company. The legal filings are amendments to an earlier suit.
