Thursday, July 07, 2005
Bob Congdon: Lotus / IBM Anniversary
Bob Congdon: Lotus / IBM Anniversary: "I realized today that an anniversary had passed last month without notice. Ten years and one month ago (June 6, 1995) IBM made a cash tender offer to purchase Lotus Development Corp. at a price of $60 per common share -- the day before Lotus stock was trading at $32 per share. A week later the offer was upped to $64 per share. The total value of the transaction was about $3.5 billion."