Feeds

McAfee.com board accepts improved NAI offer

Tortuous acquisition nears completion?

  • alert
  • submit to reddit

Build a business case: developing custom apps

Network Associates on-off bid for the 25 per cent of shares in McAfee.com it doesn't already own looks to be nearing completion after McAfee.com's board recommended its approval.

Shareholders in NAI's partially owned consumer ASP subsidiary are been offered $8.00 in cash plus 0.675 of a share of NAI common stock in exchange for each of their shares. This represents $17.86 per share (based on closing prices of August 21), or an increase of 81 per cent over NAI's original offer in March of $9.86 per share.

But before any champagne corks get popped its worth reflecting that we've reached the stage of an offer been accepted by McAfee.com's board before. In April, an improved offer by NAI was accepted only for the offer to be dropped after it emerged that regulatory authorities were investigating NAI.

Network Associates launched a fresh bid to acquire the remaining stake in McAfee.com in July which, even on improved terms, was rejected by 96 per cent of McAfee.com shareholders earlier this month.

NAI's improved and "final" offer has now been put back to the vote and it remains to be seen whether McAfee.com board's recommendation is enough to sway McAfee.com shareholders uncertain about the ongoing SEC investigation of Network Associates. ®

External Links

McAfee.com recommends stockholders accept Network Associates' exchange offer and tender their shares

Related Stories

NAI ups offer for McAfee.com
McAfee.com rejects NAI bid (again)
NAI on-off bid for McAfee.com is off againNAI faces SEC probe
All of McAfee, why don't you take...

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.