|
|
Article: Symbol Technologies Offers to Buy Ohio-Based Telxon.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- June 3, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Knight Ridder/Tribune Business News
AKRON, Ohio--Jun. 3--Who knows what Telxon Corp. President and
Chief Executive Frank Brick is thinking? Analysts certainly don't.
None could quite explain Tuesday why Telxon apparently has rejected Symbol Technologies Inc.'s latest offer to buy the suburban Fairlawn-based maker of handheld computers and wireless networks: $40 a share in cash or up to $42 in cash and Symbol stock.
Symbol, of Holtsville, N.Y., Tuesday described the offer it made Monday as its "best and final proposal" to acquire Telxon and said the offer will expire at noon next Monday.
"Our price is 40 times Telxon's current earnings and ...