Computer Associates has launched a direct attack on Van Honeycutt, chief executive of Computer Sciences, which CA is seeking to acquire in a hostile bid.
It claims the blame for the two companies? failure to reach a friendly agreement lies entirely with Honeycutt, who ?had one issue: what he?s going to do and what?s his compensation?, according to CA chief Charles Wang.
The attack takes the battle to a new level of bitterness, and follows a lawsuit filed this week by CSC, claiming CA had used fraudulent methods to pursue its bid and had attempted ?commercial bribery? on Honeycutt (see Newswire 23 February).
CSC repeated its statement that, contrary to what CA claims, it had never held merger talks - ?just two brief meetings at CA?s request?.
Analysts believe the battle will be a lengthy and acrimonious one, and this could unnerve potential CSC customers and worry CA investors, who may fear that senior management are too preoccupied with the bid battle to manage the business effectively.
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