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Technology Stocks : CompuCom Systems & spin off ClientLink, Inc
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To: DEER HUNTER who wrote (372)6/16/2000 12:33:00 AM
From: Cheryl Galt  Read Replies (1) of 388
 
Sigh of relief! From ZDNet, June 15, "Inacom, CompuCom Talks Scuttled"
zdnet.com

By John Moore, Sm@rt Partner

Acquisition talks between Inacom Corp. and CompuCom Systems Inc. have broken down, according to a source familiar with the negotiations.

Cash-strapped Inacom has been under pressure to complete a sale. Its banks recently extended an agreement to fund payroll and other critical functions through June 16. Inacom reported on Monday that the company was in "active negotiations with a strategic buyer."

But those talks have stalled. One of the sticking points, the source said, was how to structure the deal given CompuCom's status as a Safeguard Scientifics Inc. partnership company. Safeguard is an Internet-oriented holding company.

If Inacom fails to strike a deal and its banks refuse to extend financing terms, the company "will likely need to seek protection under federal bankruptcy law," Inacom stated Monday in a Securities and Exchange Commission filing.

Inacom reportedly has received bids from two other potential buyers, but would have to quickly complete a deal to meet the Friday deadline. The source said it is unlikely that Inacom and CompuCom will resume discussions.

Inacom and CompuCom officials could not be reached for comment
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