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Article: MAI BASIC FAILS TO SET ASIDE INJUNCTION
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- February 8, 1989
- Author:
CopyrightCopyright (null) The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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Prime Computer Inc. yesterday barely hung on to a
preliminary injunction that prevents hostile suitor MAI Basic Four
Inc. from completing its $20-per-share cash tender offer for Prime.
The injunction is one of the few protections remaining for
Prime against a pursuer that increasingly appears to be within
striking distance of taking over the Natick computer company.
At a hearing yesterday in Boston, attended by Prime's
president, Anthony Craig, an angry US District Court Judge A. David
Mazzone told attorneys for Prime and MAI that he had fully expected
to grant MAI's motion to lift the injunction against its tender
offer, but changed his mind hours before appearing in court.
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