After feinting at each other for the past several days like a couple of heavyweights, Prime Computer Inc and Computervision Corp got down to business on Wednesday and yesterday announced that they had definitive accord for Prime’s acquisition of Computervision at $15 cash per share. Computervision is now recommending the offer to holders and Prime has extended it to February 4. Computervision will redeem its poison pill rights, and Prime will end its effort to replace the board with a slate of its own. Changing his tune completely, Computervision president Robert Cable now says We are very excited about the opportunities ahead. Since we have been in discussions with Prime, we realise the very real synergy between both companies and what we can bring to the CAD/CAM market. The acquisition will cost Prime about $435m and create a combination that should do $2,000m or so this year.
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