Prime Takeover Near: J. H. Whitney &...
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Prime Takeover Near: J. H. Whitney & Co. officials announced that they expected to complete within 10 days a $1-billion-plus takeover of Prime Computer Inc., which has been battling a hostile bid from MAI Basic Four Inc. of Tustin. Whitney partner Russell E. Planitzer said James F. McDonald would be named Prime’s new president after the tender offer for 79% of Prime’s shares is completed at the annual board meeting Thursday. A new board will be installed when the deal is complete, he said.
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