Spotlight: Computer Associates Lets CSC Bid Lapse
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Computer Associates International Inc.’s $9.8-billion tender offer for El Segundo-based Computer Sciences Corp. expired at midnight, ending the software maker’s hostile attempt to add computer services to its business. Islandia, N.Y.-based Computer Associates terminated its bank commitments to finance its $108-a-share cash offer a week ago. It said it allowed the offer to expire because the likelihood of a protracted battle would hurt both companies. CSC declined to comment.
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