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Article: Sequent buyout rumor raises stock price, questions.(rumors of an IBM buyout raise Sequent Computer's stock price)(Company Business and Marketing)
- Article from:
- Network World
- Article date:
- July 5, 1999
- Author:
CopyrightCOPYRIGHT 1999 Network World, Inc. 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)
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BEAVERTON, ORE. --- An unconfirmed report that IBM is negotiating the purchase of Sequent Computer made vendor's high-end server stock jump over 25%.
Monday's closing stock price was $14. The stock price began to jump on Tuesday, after the Wall Street Journal reported an IBM buyout could be announced anytime. Tuesday's stock price closed at $17.56. Wednesday the stock price hit $19, a 52-week high, closing at $17.75.
Despite the stock market activity, there is no concrete evidence the talks between Sequent and IBM are more than just moonshine. "IBM does not comment on industry speculation," a company spokesperson said on Wednesday; Sequent also declined ...