Engineer:
I don't have much input on this one. I didn't realize it is more cost effective to purchase private companies. With CSCO... Wasn't Telebit a public company?
Here is an article dated sometime a August 1996:
((SAN JOSE, Calif. -- Cisco Systems Inc. (CSCO), Telebit Corp. (TBIT) and Telebit's directors were named defendants in a shareholder lawsuit filed in the Middlesex County, Mass., Superior Court.
In a joint press release, the companies said the suit alleges, among other things, that the companies' proposed merger and asset sale will not be in the best interest of Telebit shareholders.
As reported, Cisco signed an agreement to acquire Telebit in a $200 million cash-for-stock merger. In conjunction with the merger, Telebit's management plans to form a new remote access products and
services company, through a management buyout of substantially all of Telebit's assets, other than its patents and MICA technology, which will be acquired by Cisco.
The suit alleges that the consideration being paid in connection with the asset sale and the proposed merger price of $13.35 a share are below market value.
Cisco and Telebit believe that the suit ''is without merit'' and they ''intend to defend it vigorously.'')) |
