Word: ibm
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Dates: during 1990-1999
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...Corp. finally accepteda sweetened, $3.5 billion buyout offer from IBMlate Sunday, turning what would be the software industry's largest hostile takeover into its largest acquisition. "We don't care who pays our salary," one Lotus programmer told the Associated Press. "We just want more people using our software." IBM launched the hostile buyout of Boston-based Lotus last week, then negotiated slightly better terms, offering $3.52 billion, or $64 a share. TIME Boston bureau chief Sam Allis says the deal's biggest surprise lay in IBM's decision to retain Lotus chief executive Jim Manzi. "Everybody figured that...
...What we teach [at the Kennedy School] is not designed to be influenced by what happens in Washington," said roger B. Porter, IBM professor of business and government at the Kennedy School and a top aide to former President bush. "We teach how to be thoughtful and insightful policy makers, and that applies to both Democrats and Republicans...
This is wonderful news -- at least the company is moving in the proper direction-and if it's true, maybe I'll start using the IBM clone that sits on my desk, stupid as a lawn jockey. But this isn't about me. This is about what's good for the entire digital world. And what's good for the digital world has nothing to do with smart technology versus stupid technology. It has to do with who's biggest and most likely to put all the pieces together. More important, it has to do with someone finally being responsible...
...IBM plans to pay for the acquisition out of its $10 billion cash holdings and has started legal action to prevent Lotus directors from using a "poison pill" strategy to block the takeover...
...togain back lost ground in the high-tech world, IBM announced a $3.3 billion hostile takeover bid for Lotus Development Corp., maker of the popular Lotus 1-2-3 spreadsheet and other software. "Together, our skills match in a way that is breathtaking," IBM's chairman and CEO Louis Gerstner told a news conference. (Lotus, the third-largest PC software company after Microsoft and Novell, rejected IBM's buyout suggestions during five months of private talks, but today said it would consider the $60 per share cash offer, which amounts to twice its market value.)TIME senior technology editor Philip...