Advertisement

Court Aids Prime in Bid for MAI

June 14, 1989|DAVID OLMOS

Prime Computer gained some breathing room Tuesday in its effort to stave off an unfriendly takeover by MAI Basic Four when a Delaware court denied a motion to force Prime to hold its annual shareholders meeting today. Meanwhile, Prime disclosed in a court document "substantial" prospects for a better bid than MAI's latest $1.1-billion offer.

Prime, a Natick, Mass., minicomputer maker, said in a filing in Delaware Chancery Court that it is talking with "several Fortune 500-sized companies and two well-established leveraged buyout firms" about a possible acquisition of Prime.

Advertisement
Los Angeles Times Articles
|
|
|