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Article: Dataproducts buys back stock after takeover fails. (DPC Acquisition Corp. withdrew offer)
- Article from:
- Los Angeles Business Journal
- Article date:
- March 12, 1990
- Author:
CopyrightCOPYRIGHT 1990 CBJ, L.P. 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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Dataproducts buys back stock after takeover fails
New York group couldn't obtain financing for deal
Dataproducts Corp., a Woodland Hills-based computer printer manufacturer that until very recently was a potential hostile takeover subject, last week completed a cash tender offer that repurchased 22 percent of its outstanding common stock.
As a result of the offer, which brought the book value of Dataproducts stock down to $8.64 a share, the stock reached a new 52-week low of $4.875 -- in contrast to its 52-week high of $17.50 when DPC Acquisition Corp. still had an unsolicited takeover offer outstanding. DPC, a partnership headed by John K. ...