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 A second offer (0.78), which was accepted by McAfee.com's board was subsequently withdrawn when inaccuracies were discovered in some of NAI's financial statements.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:

VB2018 presentation: The wolf in sheep's clothing - undressed

Today, we publish the video of the VB2018 presentation by CSIS researchers Benoît Ancel and Aleksejs Kuprins, who looked at a rather dubious seller of government spyware, described by someone else operating in the same space as a "criminal of the…

VB2018 paper: The dark side of WebAssembly

Today, we publish the VB2018 paper by Symantec researchers Aishwarya Lonkar and Siddhesh Chandrayan on the security risks that come with WebAssembly.

The Virus Bulletin conference returns home: VB2019 to take place in London

In 2019, the Virus Bulletin conference is set to return home, with VB2019 taking place in London, UK.

Guest blog: The case for increasing transparency in cybersecurity

In a guest blog post, Kaspersky Lab's Anton Shingarev considers the case for increasing transparency in cybersecurity.

VB2018 preview: Workshops

Workshops make their VB Conference debut during VB2018, giving delegates the opportunity to learn the basics of kernel-level malware analysis, Android reverse-engineering and artificial intelligence.

We have placed cookies on your device in order to improve the functionality of this site, as outlined in our cookies policy. However, you may delete and block all cookies from this site and your use of the site will be unaffected. By continuing to browse this site, you are agreeing to Virus Bulletin's use of data as outlined in our privacy policy.