Secure Computing snubs CyberGuard

By

Secure Computing Corporation has rejected CyberGuard’s $297 million bid to buy the company.

The board of directors for Secure Computing snubbed the multi-million dollar offer after talking to its financial consultants Citigroup and legal advisers Heller Ehrman White & McAuliffe LLP.


A statement from Secure Computing said that offer was unsolicted and failed to meet the interests of its stockholders.

"It wasn't unexpected," said Pat Clawson, chairman and CEO for CyberGuard. "There was 99 per cent they would say 'no', But we are still going to work with this and see if we can raise the cash. You don't get bankers in if you don't mean business."

www.cyberguard.com
www.securecomputing.com

 

Got a news tip for our journalists? Share it with us anonymously here.
Copyright © SC Magazine, US edition
Tags:

Most Read Articles

CBA using facial recognition logins to verify disputed payments

CBA using facial recognition logins to verify disputed payments

Qantas contacted by "potential cyber criminal"

Qantas contacted by "potential cyber criminal"

SA Power Networks tackles IAM, cloud security under five-year strategy

SA Power Networks tackles IAM, cloud security under five-year strategy

Qantas facing 'significant' data theft after cyber attack

Qantas facing 'significant' data theft after cyber attack

Log In

  |  Forgot your password?