How high will Microsoft fly? Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : How high will Microsoft fly?

MSFT 492.06

+0.2%

Dec 9 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: taxman who wrote (22606)	5/12/1999 8:48:00 PM
From: Maverick	of 74651

MSFT bids for Swedish wireless Sendit Microsoft bids for Sweden's Sendit STOCKHOLM, May 12 (Reuters) - Swedish mobile telephone and internet technology company Sendit AB said on Wednesday U.S. software giant Microsoft Corp was bidding 325 crowns per share for it, valuing the Swedish company at 1.07 billion crowns ($130 million). ($1=8.328 Swedish Crown) "Sendit's board recommends all the shareholders in Sendit accept Microsoft's offer," Sendit said in a statement. The bid reflected a premium of about 41 percent compared with Sendit's most recent closing price of 230 crowns. It is listed on the SBI list of smaller Swedish companies. Microsoft had already received acceptance from shareholders controlling 42.9 percent of Sendit votes and capital. Sendit was founded in 1994 and its main product is Internet Cellular Smart Access (ICSA) which gives users access to the Internet and email through mobile telephones. Sendit works close to leading mobile phone makers around the world. The 100 or so Sendit employees will continue to work in Sweden, Sendit said. "Behind the bid is the joint vision Microsoft and Sendit have when it comes to developments within the mobile market," Sendit said in a statement. Microsoft would continue to invest in market leading technology for mobile information which Sendit has developed, Sendit said. ((Abigail Schmelz, Stockholm newsroom, +46-8-700 1003, fax +46-8-211601, stockholm.newsroom@reuters.com))

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next