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January 13, 1997updated 05 Sep 2016 12:25pm

COMPUTERVISION HAS TO GIVE UP $35M ON SALE

By CBR Staff Writer

Computervision Corp is having to cut the cash price of its Open Service Solutions business, to be renamed CV Services International Inc, ahead of its sale to the investment group headed by J F Lehman & Co to $65m because the unit’s third and fourth quarter revenues and profits fell short by about $0.12 per share. The price will now be $65m in cash, down from $100m in Cash, $25m in preferred stock of CV Services, and warrants to buy shares representing 16% of the expanded equity. Shut-down costs will offset any gain made.

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