TECHNOLOGY - May 20, 1994
From Times Staff and Wire Reports
Computer Associates to Acquire ASK Group Inc.: Computer Associates International Inc., a leading business software company, said it will buy ASK for $311 million in cash. ASK shares soared $3.9375 on the news to close at $12.9375 on Nasdaq, where its 43% gain was the day’s largest. ASK’s two main shareholders, Electronic Data Systems Corp. and Hewlett-Packard Co., have already agreed to tender their combined 27% stake in the company, Computer Associates said. Under the agreement, the Islandia, N.Y.-based company will offer $13.25 a share for all 23.5 million of ASK’s shares outstanding. ASK is a leading developer of strategic business software.
