EDS Sweetens Offer for Unigraphics Solutions
Computer services giant Electronic Data Systems Corp., sweetening its previous buyout plan, said Friday it is offering $172.3 million in cash for the remainder of software maker Unigraphics Solutions Inc. in Cypress.
EDS, based in Plano, Texas, owns 86% of Unigraphics shares. Under the agreement, EDS will purchase 5.3 million shares at $32.50 each. EDS’ initial offer--$27 a share--triggered shareholder lawsuits contending the price was too low.
EDS plans to combine Unigraphics with Structural Dynamics, a Milford, Ohio, company that it also expects to acquire this quarter. The combined business will keep the Unigraphics name and be based in Cypress. EDS plans to sell the companies’ product-design software.
Shares of EDS fell 3 cents to $62.96. Unigraphics rose 81 cents to $32.31. It has climbed 52% since May 23, when EDS announced it would buy the rest of the company. Structural Dynamics rose 6 cents to $24.81.
EDS had acquired Unigraphics from McDonnell Douglas Corp. in 1991 and spun it off in 1998, EDS spokesman Ish Haley said.
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