OTHER NEWS - Jan. 5, 1993
From Times Staff and Wire Reports
$30-Million Charge: Conner Peripherals Inc. said Monday that it will take a fourth-quarter, after-tax charge of $30 million to $35 million as a result of its acquisition of Archive Corp. Conner, a disk-drive maker based in San Jose, said it completed the acquisition of Archive, announced earlier, on Dec. 29 through a cash tender offer of $11.25 a share. With Archive’s 13.34 million shares outstanding, the acquisition is valued at about $151 million. Archive, based in Costa Mesa, makes tape drives and tape systems for personal computers. It is now a fully owned unit of Conner.
