Feeds

NAI ups offer for McAfee.com

Again

  • alert
  • submit to reddit

High performance access to file storage

ComputerWire: IT Industry Intelligence

Network Associates Inc blinked in its stand-off with McAfee.com yesterday, upping its offer for the company to a 20% premium over its current share price just as its previous offer was about to expire.

Santa Clara, California-based NAI's offer for the 25% of McAfee it does not already own now stands at $15.43 per share, based on NAI's share price on Monday, and consists of 0.675 of a Network Associates share plus $8 in cash.

NAI has also extended its tender period for the offer to September 12. Its previous, rejected offer of 0.9 NAI shares for each McAfee.com share was due to expire yesterday.

This is just the latest offer NAI has made for the outstanding shares of McAfee.com. Its original offer, made in March, was 0.675 NAI shares for each McAfee.com share. This was upped to 0.78 in April, an offer which was accepted by McAfee.com's board. However, this offer was dropped when NAI was being investigated by regulatory authorities. NAI made a fresh offer in early July of 0.78 of a share, before upping it to 0.90 of a share in mid-July due to the negative effect of share price fluctuations on its overall value.

However, the company insisted that this is the last time it will increase its offer. George Samenuk, NAI's chairman and CEO, said in a statement that the firm's directors "has determined that we will not accept further dilution or cash expenditure to complete this transaction." McAfee.com was not available for comment yesterday.

© ComputerWire

SANS - Survey on application security programs

More from The Register

next story
Virgin Media so, so SORRY for turning spam fire-hose on its punters
Hundreds of emails flood inboxes thanks to gaffe
A black box for your SUITCASE: Now your lost luggage can phone home – quite literally
Breakfast in London, lunch in NYC, and your clothes in Peru
AT&T dangles gigabit broadband plans over 100 US cities
So soon after a mulled Google Fiber expansion, fancy that
AT&T threatens to pull out of FCC wireless auctions over purchase limits
Company wants ability to buy more spectrum space in auction
Google looks to LTE and Wi-Fi to help it lube YouTube tubes
Bandwidth hogger needs tube embiggenment if it's to succeed
Turnbull gave NBN Co NO RULES to plan blackspot upgrades
NBN Co faces huge future Telstra bills and reduces fibre footprint
NBN Co plans fibre-to-the-basement blitz to beat cherry-pickers
Heading off at the pass operation given same priority as blackspot fixing
NBN Co in 'broadband kit we tested worked' STUNNER
Announcement of VDSL trial is not proof of concept for fibre-to-the-node
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.