Baltimore denies reports of CA takeover
Published: 16 Jul 2001 14:40 BST
Newspaper reports this weekend that claimed that Baltimore Technologies was close to being taken over by US software giant Computer Associates were denied on Monday.
Dublin-based Baltimore said that the story -- published in yesterday's Sunday Times -- was not true. "The company confirms that it is not in advanced takeover discussions with Computer Associates or any other company," said a statement released by the Irish software firm.
However, Baltimore did add that it was still willing to negotiate with any interested parties, but insisted that it was still focusing on a restructuring plan. "The board of Baltimore Technologies would consider any option that was in the best interest of shareholders," it said.
Baltimore has been badly hit by the downturn in the technology sector. Its shares were worth around £13.50 last March, but fell to a low of 14.5p earlier this year. They rose around ten percent in London today to 34.1p.
Last Thursday Baltimore said that it had received a bid from Chantilly Corporation, a rival security firm. However, it did not treat the approach -- rumoured to have been originally sent to the wrong address -- as a formal offer.
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