Third time unlucky

Posted by   Virus Bulletin on   Aug 1, 2002

NAI's third attempt to re-acquire McAfee.com was scuppered yesterday when 96% of McAfee.com shareholders rejected NAI's latest exchange offer for McAfee.com shares.

NAI's third attempt to re-acquire McAfee.com was scuppered yesterday when 96% of McAfee.com shareholders rejected NAI's latest exchange offer for McAfee.com shares.

The offer currently on the table is 0.90 NAI share for every McAfee.com share, which represents a 15.5% increase since the previous offer. However, with the current value of McAfee.com shares higher than the current value of NAI shares, Srivats Ampath, president and CEO of McAfee.com, said: 'the Network Associates offer was financially inadequate and substantially undervalued both our current business and our future potential... We call upon Network Associates either to increase its offer to a level that the board of directors of McAfee.com can support or to promptly terminate and withdraw its offer so that both companies can move forward and focus on building value for our respective stockholders.'

NAI made its first approach to McAfee.com shareholders in March 2002, when it offered 0.675 NAI share for every McAfee.com share. A second offer (0.78), which was accepted by McAfee.com's board was subsequently withdrawn when inaccuracies were discovered in some of NAI's financial statements. NAI has extended the current offer until 13 August.

See also: Confusion Reigns

Posted on 01 August 2002 by Virus Bulletin

 Tags

twitter.png
fb.png
linkedin.png
googleplus.png
reddit.png

 

Latest posts:

Throwback Thursday: Giving the EICAR test file some teeth

The 68-byte EICAR test file plays as important a role today as it did 19 years ago. In this week's Throwback Thursday we look back at a VB99 conference paper in which Randy Abrams described how this 'miracle tool' worked and how it could be used.

XMRig used in new macOS cryptominer

A new piece of cryptocurrency-mining malware on macOS has been found to use the popular XMRig miner.

Tendency for DDoS attacks to become less volumetric fits in a wider trend

CDN provider Cloudflare reports an increase in DDoS attacks targeting layer 7 and focusing on exhausting server resources rather than sending large volumes of data. This fits in a wider trend.

Turkish Twitter users targeted with mobile FinFisher spyware

Through fake social media accounts, users were tricked into installing an Android application that was actually a mobile version of the FinFisher spyware.

Hide'n'Seek IoT botnet adds persistence

The Hide'n'Seek IoT botnet has received an update to make its infection persist on infected devices beyond a restart.