The Thomson Corporation Completes Tender Offer For Computer Language Research, Inc.TORONTO AND DALLAS--(BUSINESS WIRE)--Feb. 17, 1998--The Thomson Corporat(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :TOC.) (ME:TOC.) Research Institute of America Group (RIAG RIAG Raiffeisen Investment AG (Austria) ), a division of The Thomson Corporation (TTC TTC Trying To Conceive TTC Toronto Transit Commission TTC Trans Texas Corridor TTC Toutes Taxes Comprises (French) TTC Trident Technical College (North Charleston, SC) TTC Temporary Traffic Control ), today announced that Sabre Acquisition, Inc. (Sabre, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of TTC), has completed its cash tender offer for all of the outstanding shares of common stock of Computer Language Research, Inc. (CLR (Common Language Runtime) The runtime engine in Microsoft's .NET platform. The CLR compiles and executes programs in Microsoft Intermediate Language (MSIL). The counterpart to the CLR for the Common Language Infrastructure (CLI), ECMA's standard version of . ). The tender offer expired, as scheduled, at 12:00 Midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Friday, February 13, 1998. Based on a preliminary count, 14,365,891 shares of CLR were tendered (including 1,067 shares subject to guarantee of delivery) and accepted for payment at a price of US$22.50 per share. The acceptance of these shares in the tender offer will result in TTC's ownership of approximately 99 percent of the outstanding common stock of CLR. In the proposed second step of the acquisition, TTC plans to merge Sabre with and into CLR, with CLR as the surviving corporation of the merger. As a result of such merger, each share of CLR common stock not previously purchased in the tender offer will be converted into the right to receive US$22.50 in cash. Under applicable law, the proposed merger is not subject to the approval of the remaining outstanding shareholders of CLR. RIAG is a leading provider of information-based solutions for tax, accounting, corporate finance and human resource professionals. CLR's primary business is the provision of tax compliance software to sophisticated users within the national/regional accounting firm and corporate tax markets. CLR also offers tax compliance products for the bank trust and government markets, as well as practice management and financial products for local accounting firms. The principal activity of The Thomson Corporation is specialized information and publishing worldwide. In addition, TTC has important interests in newspaper publishing in North America and in leisure travel in the United Kingdom and Sweden. TTC had sales of US$7.7 billion in 1996 and some 50,000 staff members. TTC's common shares are traded on the Toronto, Montreal and London stock exchanges London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . CONTACT: John Kechejian The Thomson Corporation, 203/328-9470 or Robert Dilworth Computer Language Research, Inc., 972/250-8679 |
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