Insurance & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Trading Technology

00:00 AM
Connect Directly

CSC Extends Mynd Tender Offer, Again

Mynd shareholders have been playing the waiting game while the FTC decides whether or not Computer Sciences Corp.'s (CSC, El Segundo, CA) plans to acquire Mynd violate anti-trust laws.

At press time, CSC had extended the offer until 11:59 p.m. Eastern Standard Time on October 31 because both CSC and Columbia, SC-based Mynd believed the FTC would finish its review of the transaction by that date.

If the FTC rules CSC's acquisition of Mynd would violate anti-trust laws, Steve McKlemman, first vice president of computer services and who tracks CSC at New York-based Merrill Lynch, says, CSC and Mynd apparently "are willing to make concessions to make the deal happen." For instance, sell off certain products or divisions the FTC feels creates a monopoly if the two companies were to operate as a single entity.

Richard Roby, director of insurance research, Tower-Group (Needham, MA), says, "Mynd will end up with CSC. The deal will go through.

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

Register for Insurance & Technology Newsletters