Concurrent Computer Corp. rebuffs sweetened bid by Harris Computer Systems Corp.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--March 13, 1995--Harris Computer Systems Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NHWK) Monday announced that on Friday, March 10, it improved its previous stock-for-stock offer to purchase Concurrent Computer Corp. (NASDAQ:CCUR CCUR Center for Crops Utilization Research ). Harris Computer Systems' new offer consists of 1 share of its stock for 16 shares of Concurrent's stock, based on the market price for both stocks at the close of business on Friday, March 10. The Board of Directors of Concurrent rejected this new bid on Sunday Sunday: see Sabbath; week. , March 12, by allowing the offer to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. . No tender offer or proxy solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual by Harris Computer Systems Corp. with respect to Concurrent is currently planned. Commenting further on the relationship between the parties, a spokesperson for Harris Computer Systems Corp. noted that Concurrent had issued a press release on March 2, that was incorrect in two respects. First, the press release created the impression that Concurrent had been bidding to acquire Harris Computer Systems, when in fact, Harris Computer Systems had been offering to acquire Concurrent. Second, the press release implied that Harris Computer Systems was attempting to acquire Concurrent's MAXION Open Systems Technology. In actuality ac·tu·al·i·ty n. pl. ac·tu·al·i·ties 1. The state or fact of being actual; reality. See Synonyms at existence. 2. Actual conditions or facts. Often used in the plural. , Harris Computer Systems has no plans to adopt the MAXION(tm) architecture. However, Harris Computer Systems plans to incorporate Concurrent Computer Corp.'s customer-specific software into their Night Hawk hawk, name generally applied to the smaller members of the Accipitridae, a heterogeneous family of diurnal birds of prey, such as the eagle, the kite, the Old World vulture, and the secretary bird. (r) architecture. Significant savings can be realized in the combined research and development. Harris Computer Systems believes that a combination of the two companies would result in economies of scale with respect to research and development and selling and marketing expenses that should translate into improved bottom line performance and improved market share. Both Harris Computer Systems Corp. and Concurrent manufacture open architecture real-time computers suitable for demanding computer applications. Harris Computer Systems Corp., a worldwide corporation headquartered in Fort Lauderdale, is a leading supplier of real-time and secure computer solutions. The company manufactures the Night Hawk family of real-time computers for simulation, data acquisition and secure computing For the general concept, see . Secure Computing Corporation, or SCC, is a public company (NASDAQ: SCUR) that develops and sells computer security products, such as:
Night Hawk is a registered trademark, and CyberGuard Firewall and CyberGuard Series are trademarks of Harris Computer Systems Corporation. For additional company or product information via fax, please call 800/344-4297. Note to Editors: For additional company or product information via fax, please call 800/344-4297. CONTACT: Harris Computer Systems Corp., Ft. Lauderdale Media Contact: Gail Truman, 305/973-5124 or Analyst and Investor Contact: Beth Alonzo, 305/973-5100 |
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