Technology

Computer Associates Closes Tender Offer for Platinum

CBR Staff Writer May 31, 1999

Computer Associates International Inc has announced the expiration of the tender offer by its wholly owned subsidiary HardMetal Inc to buy all the outstanding shares in Platinum Technology Inc for $29.95 per share. CA reports 98% acceptance, which translates to 108.6 million shares. Platinum and HardMetal will now merge as soon as possible, and Platinum itself will become a wholly owned subsidiary of CA. Charismatic former CEO of Platinum Andrew Flip’ Filipowski has already left the building.

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