The Lotus-Eaters — Remember when the aborted Microsoft-Intuit merger – valued at over $2 billion – would have been the largest such deal in the history of the computing industry? No more! IBM today announced a $60 per share bid to take over Lotus Development Corporation. If the deal goes through it would be valued at approximately $3.3 billion, and IBM indicates it intends to pay for the purchase from "cash on hand." Lotus has resisted tight ties with IBM in the past, and this takeover bid has been characterized as "potentially hostile, IBM pursuing legal action to prevent Lotus from using a "poison pill" anti-takeover strategy. As of mid-morning, Lotus stock was up more than 25 points, with a volume over 10 million shares. [GD]
Subscribe today so you don’t miss any TidBITS articles!
Every week you’ll get tech tips, in-depth reviews, and insightful news analysis for discerning Apple users. For over 32 years, we’ve published professional, member-supported tech journalism that makes you smarter.
Registration confirmation will be emailed to you.