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April 10, 1988

GANDALF REFUSES TO SHOW HAND OVER CASE

By CBR Staff Writer

Following its second bite at the cherry on Thursday (CI No 904), Gandalf Technologies Inc, Ottawa is now the biggest single shareholder in Case Group Plc with 9.53%, followed by principals and directors with a little under 10%. The other declared shareholders are Foreign & Colonial and Provident Multual, each with 5%. Gandalf has refused to confirm whether it will attempt a takeover for the significantly larger Case: case is currently valued at UKP51m, Gandalf at UKP39m. Case remains hostile to Gandalf’s manoevering and has described the latest move as unwelcome. Both companies sell a range of modems, multiplexors and data switches. Case still relies heavily on its decade-old DCX multiplexor technology to bring in revenue and acquired its own front-end data switch when it bought US company Rixon in 1985. A return to profits after two years of losses is seen for the year to last month.

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