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November 26, 1998

ACS PLANS TO CONTINUE WITH BRC MERGER, DESPITE BLOCK

By CBR Staff Writer

Dallas-based systems integrator Affiliated Computer Services Inc is to go ahead with its planned acquisition of BRC Holdings Inc, a 30 year-old services firm also based in Dallas, despite a court ruling delaying the planned November 30 closure of the deal. ACS agreed to acquire BRC for approximately $261m in October, but was later the subject of a blocking suit filed in Delaware by Matador Capital Management and related companies, seeking an injunction prohibiting consummation of the offer. The judge said the closure should be delayed until BRC shareholders are given more information about internal conflicts of interests and private shareholdings. Affiliated’s offer is good until January 31, 1999. Both companies provide outsourcing services.

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