TECHNOLOGY - Oct. 20, 1998
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Intel Corp. agreed to buy Shiva Corp. for $6 a share, or about $185 million in cash, as the world’s top computer chip maker expands its line of networking products for small and medium-sized businesses. Santa Clara-based Intel is paying a premium of $1.75 a share, or 41%, over Bedford, Mass.-based Shiva’s Friday close of $4.25. In Nasdaq trading, Shiva shares rose $1.25 to close at $5.25, and Intel rose $1.25 to $85.
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