Prime Computer Is Reinventing Itself
Prime Computer's life as a troubled LBO may be coming to an end. The company plans to spin off its shrinking minicomputer business to managers in a corporate makeover that also calls for the sale of $600 million in stock and new debt. The issues would create a $1.2 billion company, Computervision, composed of Prime's computer-aided design and manufacturing (CAD/CAM) and repair business. American Express, which now holds $530 million of Prime's $1.4 billion in debt, would receive partial repayment and gain a one-third stake in the new company.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.