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MAI DETAILS DREXEL’s BIG INTEREST IN BID FOR PRIME

MAI Basic Four Inc has responded to the court order to reveal more information on the financing for its proposed acquisition of Prime Computer Inc by filing key details with the US Securities & Exchange Commission – and they may well prove enough to cause Prime shareholders to wonder whether they really want to benefit to such an extent a company surrounded by as much controversy as Drexel Burnham Lambert. If the bid succeeds, Drexels, which already holds 6.9% in MAI, will get the right to buy up to an additional 12% of the company enlarged by the addition of Prime at a discount to the market price. Drexels will also get a maximum of $32.75m in fees in connection with the bid, and will be given the business if MAI decides to sall parts of Prime.

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CBR Staff Writer

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