Silicon Investor (SI) -- The First Internet Community

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 : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Captain Jack who wrote (91163)	5/10/2001 3:44:10 PM
From: John Koligman	Respond to of 97611

Proxicom tells Compaq to cough up more cash By Sam Costello SERVICE COMPANY PROXICOM, which had agreed to be purchased by Compaq in April unless a better deal came along, said Wednesday that it has found just such a deal and that Compaq has until Monday to improve its offer. In a statement that came two days after Proxicom said that it was in talks with U.K.-based Dimension Data Holdings, Proxicom said that Dimension Data Holdings had offered to purchase the company for $7.50 per share, besting Compaq's price of $5.75. Proxicom's agreement with Compaq allowed Proxicom to receive and negotiate other bids and if a better offer were received, Compaq would have three days to match it. If Compaq does not match the bid, Reston, Va.-based Proxicom will pay a $10 million termination fee. Proxicom's board has not yet changed or withdrawn its recommendation to shareholders that they approve the Compaq merger, the company's statement said. The Compaq deal would have cost $266 million. The total value of Dimension Data Holdings' offering was not announced. Houston-based Compaq is attempting to acquire Proxicom to expand its global services offerings. Compaq is evaluating its options and will take the three-day period to decide how to proceed, said Steve Seivert, a Compaq spokesman. "We want to do what's in the best interest of the company," he said. John