May 26, 2001 |
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.
August 4, 2001 |
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.
May 24, 2001 |
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.
May 25, 2001 |
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.