Adopts Stockholder Rights Plan IRVINE, Calif., Nov. 10 /PRNewswire/ -- Datum Inc. (Nasdaq: DATM) today announced that it has received an unsolicited proposal from Frequency Electronics, Inc. (Amex: FEI) to merge the two companies for either $10.00 in cash or 1.0596 shares of Frequency Electronics common stock for each outstanding share of Datum common stock, or a combination of both cash and stock. The Company has retained Hambrecht & Quist LLC as its financial advisor and Stradling Yocca Carlson & Rauth and Potter Anderson & Corroon LLP as its legal advisors, and is evaluating the situation. The Company anticipates making a formal announcement with respect to the proposal within the next few days. Datum today also announced that its board of directors has adopted a stockholder rights plan to protect stockholders from any unwelcome attempt to acquire the Company. Erik van der Kaay, President and Chief Executive Officer stated, "While the stockholder rights plan will not prohibit the acquisition of the Company, it establishes certain rights to ensure that should any unsolicited acquisition occur, it would be on terms equitable to all stockholders." Datum Inc. designs, manufactures and markets a wide variety of high-performance time and frequency products used to synchronize the flow of information in telecommunications networks. The Company is also a leading supplier of precise timing products for computing networks, satellite systems, electronic commerce and test and measurement applications. SOURCE Datum, Inc. -0- 11/10/1999 /CONTACT: David A. Young, Chief Financial Officer of Datum, Inc., 949-598-7575/ /Web site: http://www.datum.com/ (DATM FEI) CO: Datum, Inc.; Frequency Electronics, Inc.; Hambrecht & Quist LLC; Stradling Yocca Carlson & Rauth; Potter Anderson & Corroon LLP ST: California IN: MLM TLS SU: TNM SRP -0- Nov/10/1999 6:31 EOS (PRN) Nov/10/1999 06:31 85 â -0- (PRN) Nov/10/1999 6:46
DATUM, INC. RECEIVES UNSOLICITED ACQUISITION PROPOSAL;
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