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Technology Stocks : Cheyenne Software - Will it be bought by Computer Assoc.?
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To: Jerry J. Kaczur who wrote (96)5/14/1996 10:56:00 PM
From: MGB   of 130
 
As we know by now, McAfee is out of the Cheyenne picture ... couldn't stand the heat, I guess. Truth is, hostile deals in tech are virtually unheard of. However, I still maintain that CYE is in play. I believe that management has simply bought themselves time. The stock is held by people who have put pressure and will put pressure on the company and its Board to respond in a tangible way to McAfee's $27.50 bid. It will not suffice for CYE to simply reject the bid on the basis that it is inadequate, and then do nothing. As I say, they've bought some time to cut their own deal, on their terms. If they don't come up with something, there will be another McAfee down the road, and the next time it's sayanora. By the way, the day McAfee walked away CYE hit $19 something. Today the stock closed just below $22.00.
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