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BUSINESS
August 4, 2001 | Bloomberg News
Computer services giant Electronic Data Systems Corp., sweetening its previous buyout plan, said it will purchase the remainder of software maker Unigraphics Solutions Inc. for $172.3 million in cash. Plano, Texas-based EDS, which owns 86% of Cypress-based Unigraphics' shares, said it will pay $32.50 each for the remaining 5.3 million shares. The initial offer by EDS of $27 a share triggered shareholder lawsuits contending the price was too low.
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BUSINESS
August 4, 2001 | Bloomberg News
Computer services giant Electronic Data Systems Corp., sweetening its previous buyout plan, said Friday it is offering $172.3 million in cash for the remainder of software maker Unigraphics Solutions Inc. in Cypress. EDS, based in Plano, Texas, owns 86% of Unigraphics shares. Under the agreement, EDS will purchase 5.3 million shares at $32.50 each. EDS' initial offer--$27 a share--triggered shareholder lawsuits contending the price was too low.
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BUSINESS
May 26, 2001 | Bloomberg News
Stockholders filed seven lawsuits in one day against Unigraphics Solutions Inc. on claims that the planned $170-million buyout of the Cypress maker of computer-aided design software undervalues the shares. The lawsuits, filed Thursday in Delaware Chancery Court, followed the previous day's announcement that the company's majority shareholder, Electronic Data Systems Corp., would buy the 14% of Unigraphics it doesn't own for $27 a share. The stock soon rose above $29. It closed Friday at $29.
BUSINESS
August 4, 2001 | Bloomberg News
Computer services giant Electronic Data Systems Corp., sweetening its previous buyout plan, said it will purchase the remainder of software maker Unigraphics Solutions Inc. for $172.3 million in cash. Plano, Texas-based EDS, which owns 86% of Cypress-based Unigraphics' shares, said it will pay $32.50 each for the remaining 5.3 million shares. The initial offer by EDS of $27 a share triggered shareholder lawsuits contending the price was too low.
BUSINESS
August 4, 2001 | Bloomberg News
Computer services giant Electronic Data Systems Corp., sweetening its previous buyout plan, said Friday it is offering $172.3 million in cash for the remainder of software maker Unigraphics Solutions Inc. in Cypress. EDS, based in Plano, Texas, owns 86% of Unigraphics shares. Under the agreement, EDS will purchase 5.3 million shares at $32.50 each. EDS' initial offer--$27 a share--triggered shareholder lawsuits contending the price was too low.
BUSINESS
April 24, 2001
Unigraphics Solutions Inc., which this year moved its headquarters to Cypress from St. Louis, reported first-quarter net income of $3.2 million, or 9 cents a share, down from the $10.4 million, or 28 cents a share, a year ago. Revenue increased 13% to $136.4 million for the company, a supplier of software and services for manufacturers.
BUSINESS
May 24, 2001 | Reuters
Electronic Data Systems Corp. said it will acquire Structural Dynamics Research Corp. for $950 million, or $25 a share, in a cash deal. The computer services provider said it also is offering to buy 14% of its Unigraphics Solutions Inc. subsidiary that is publicly held and merge the two into a new business at EDS. EDS said the offer to UGS shareholders contemplates a price of $27 a share, or total cash of about $170 million.
BUSINESS
May 25, 2001 | Bloomberg News
Electronic Data Systems Corp. plans to cut an unspecified number of jobs after it buys Structural Dynamics Research Corp. and the rest of Unigraphics Solutions Inc. EDS, which already owns 86% of Unigraphics, expects $60 million to $80 million in cost savings by combining the two companies, said Unigraphics Chief Executive Anthony Affuso.
BUSINESS
May 26, 2001 | Bloomberg News
Stockholders filed seven lawsuits in one day against Unigraphics Solutions Inc. on claims that the planned $170-million buyout of the Cypress maker of computer-aided design software undervalues the shares. The lawsuits, filed Thursday in Delaware Chancery Court, followed the previous day's announcement that the company's majority shareholder, Electronic Data Systems Corp., would buy the 14% of Unigraphics it doesn't own for $27 a share. The stock soon rose above $29. It closed Friday at $29.
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