Computer Sciences Extends Offer for Mynd

September 12, 2000

Computer Sciences Corp. has again extended a $16 per share cash offer for insurance software company Mynd – this time to Oct. 12 – while awaiting U.S. regulatory review of the $568 million deal.

Computer Sciences extended the offer again after the Federal Trade Commission made a second request for information from the two companies. In a prepared statement, the companies said they were still responding to the request. Computer Sciences, the No. 3 computer service provider, is confident the FTC will approve the transaction. It already extended its offer once—10 days to Aug. 12—after what the company referred to as a routine information request from antitrust regulators.

In June, Computer Sciences agreed to acquire Mynd after Electronic Data Systems Corp. withdrew a $700 million offer after examining the insurance software company’s confidential financial data.

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