Computer Memories Inc, sitting on some $30m of cash in Chatsworth, California, but with no current products, is an irresistable shell, and an investment group led by Sun Equities of Far Hills, New Jersey, has bought 5.4% of the equity in the market, and says that it intends to gain control of the company one way or another: it made an offer to buy Intel’s 15% or so stake, but Intel said no dice, adding that it is talking to other potential buyers of the holding.
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