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Technology Stocks : DOCS - A TURNAROUND PLAY
DOCS 41.26+0.5%Jan 16 9:30 AM EST
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To: SurfForWealth who wrote (1074)4/27/1999 11:02:00 AM
From: Dennis Lefebvre  Read Replies (1) of 1156
 
Hi All,

PC DOCS Group International Inc -

Globe says Open Text appears ready to bid for PC Docs

PC DOCS Group International Inc
DXX
Shares issued 23,281,803
1999-04-26 close $7.65
Tuesday Apr 27 1999
See Open Text Corp (OTC) In the News
The Globe and Mail reports in its Tuesday edition that Open Text Corp. beefed
up its war chest with an additional $68-million (U.S.) financing deal completed
yesterday, leading to speculation that it could be preparing to take another run at
PC Docs Group International Inc. Open Text said it sold two million warrants for
$34 each to a syndicate of investment dealers led by TD Securities Inc. Analysts
said Toronto-based Open Text wants to aggressively pursue acquisitions to
expand its leadership in the document management market. Officials at PC Docs,
already the object of a rival takeover bid, also believe Open Text is set for
another run at the company. Open Text's new financing means that it has ready
access to more than $181-million to pay for any takeover. "I think Open Text is
really gunning for market share and building a customer base," said Greg Vogel,
an analyst with NationsBanc Montgomery Securities Inc. in San Francisco. "The
targets include PC Docs, Documentum [Inc.] and FileNet [Inc.]" Open Text
wants to more triple its customer base to 10 million users in three years.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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