long-morrow@CS.Yale.EDU (H. Morrow Long) (04/13/89)
According the following report Hewlett Packard is buying Apollo
Computers:
From yale!husc6!bloom-beacon!tut.cis.ohio-state.edu!ucbvax!ulysses!ekrell Wed Apr 12 17:13:37 EDT 1989
Article 6012 of misc.invest:
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Path: yale!husc6!bloom-beacon!tut.cis.ohio-state.edu!ucbvax!ulysses!ekrell
>From: ekrell@ulysses.homer.nj.att.com (Eduardo Krell[dgb])
Newsgroups: misc.invest
Subject: Anyone with Apollo stocks?
Message-ID: <11427@ulysses.homer.nj.att.com>
Date: 12 Apr 89 17:26:28 GMT
Date-Received: 12 Apr 89 19:09:32 GMT
Organization: AT&T Bell Laboratories, Murray Hill
Lines: 8
Keywords: takeover
HP announced today they're buying out Apollo. It's an all cash deal
at $13.25 a share.
--
Eduardo Krell AT&T Bell Laboratories, Murray Hill
{att,decvax,ucbvax}!ulysses!ekrell Internet: ekrell@ulysses.att.com
H. Morrow Long
Manager of Development
Yale Univ. Comp Sci Dept. Computing Facility
Mail Stop 2158, UUCP: yale!Long-Morrow
Yale Station, ARPA: Long-Morrow@CS.Yale.EDU
New Haven, CT 06520 BITNET: Long-Morrow@YaleCS.BITNET
(203)-432-1254 FAX: (203)-432-0593tracys@hpindda.HP.COM (Tracy Steelhammer) (04/15/89)
Here is the press release that we in HP received a couple of days ago.
I am neither in corporate public relations nor in a high management
position so this press release is absolutely all I know about this
acquisition. Please don't contact me.
HEWLETT-PACKARD TO ACQUIRE APOLLO COMPUTER
Hewlett-Packard Company and Apollo Computer Inc.
announced April 12 that both companies' board of directors have
approved a definite agreement by which HP will acquire
Apollo through a direct cash tender offer to its shareholders.
Apollo, one of the first companies to address the developing
demand for engineering workstations, employs 4,450 people
worldwide and had revenue of $654 million in 1988. It was founded
in 1980 and is headquartered in Chelmsford, Massachusetts. Under
terms of the expected acquisition, it will become a division
within HP's Workstation Group in the Computer Products Sector.
Cash price of HP's offer is $13.125 per share for Apollo's
approximately 40 million shares of common stock.
HP President and CEO John Young termed the acquisition
"an ideal combination of product strengths and business
strategies." Apollo is a leader in work group grouping
while HP is a leader in graphics and wide-area networking. Like HP,
Apollo is recognized for technical innovation and high-quality
computer products and is committed to moving toward cooperative
computing environments based on open industry standards.
HP is currently ranked by industry watchers in third place
in the workstation segment of the computer business, with
Apollo in fourth place.
HP and Apollo were both founding sponsors of the Open
Software Foundation, and HP is a licensee of Apollo's Network
Computing System (NCS) software. Both firms are pioneers in the
area of RISC architectures for workstation applications and have
major commitments to the Motorola 680X0 family of processors.
Apollo's product line includes the 3500 and 4500 series of
workstations based on the Motorola 680X0 and a second line based on
its own proprietary RISC technology (the DN Series 10000).
The company has manufacturing facilities in Exeter, New
Hampshire, and Livingston, Scotland.
Allowing time for the necessary regulatory approvals, the
acquisition could be completed within 30 days or more.
Corporate Public Relations