Alpha Microsystems of Santa Ana urged its shareholders on Friday to take no action on a pair of takeover proposals filed earlier this week until it can sort out the offers.
In its first official statement since the takeover attempts were unveiled Tuesday, Alpha Microsystems said it had retained the investment banking arm of L.F. Rothschild, Unterberg, Towbin Inc. to evaluate its position and explore "various strategic alternatives."
On Tuesday, the company was hit first with an unsolicited tender offer for up to 49.9% of its stock at $6 per share from Point 4 Data Corp. in Tustin. Hours later, Alpha Microsystems' co-founders, Richard Wilcox and Robert Hitchcock, who had just been dropped as company officers, launched a proxy fight for control of the board of directors. Wilcox and Hitchcock, who are said to oppose the Point 4 offer, control 25.2% of the company's stock.