With its share price at $7.625, Management Science America Inc’s directors look to be acting a bit hastily in rejecting an $11.50 a share offer from Computer Associates International Inc out of hand – but then they do control 24% of the Atlanta company’s shares between them. Management Science revealed the approach from the hungry Garden City, New York software firm which has grown to top spot by acquisition, at its annual meeting on Monday, and having rejected the cash offer, adjourned the meeting to July 12 so that shareholders could consider the bid and other items on the agenda.
