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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 09, 2003
Page
21
Microsoft plans to replace stock options with outright shares for about 50,000 employees starting in September. The company will expense the cost on its books, potentially reducing profits by billions, while noting restricted stock provides value independent of stock performance.
Zollars said end year results were highlighted as Yellow and Roadway, both less than truckload carriers, would keep competing in consolidating freight from multiple customers.
ArvinMeritor Inc. will launch a $2.2 billion unsolicited takeover bid for Dana Corp. at $15 in cash per Dana share, a 25 percent premium. Dana, based in Toledo, said it would review the proposal and decide within 10 days after the offer opens.
EMC Corp of HopkintonMass plans an all stock purchase of Legato Systems Inc Mountain View Calif valued at about 12 billion. The deal would be EMCs largest ever surpassing its 1999 Data General buy and reflects ongoing consolidation in data storage and software amid Oracle PeopleSoft JD Edwards activity.
Overland Park Kansas Yellow Corp agreed on Tuesday to acquire rival Roadway Corp for 966 million dollars in cash and stock. The move aims to consolidate the trucking industry facing bankruptcies and will focus on cutting back office costs such as payroll and insurance in the merged entity.
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