Baan Sinks Deeper into Red Quicksand P.J. Jakovljevic - May 25, 2000
Event Summary
On May 3, analysts suggested that Dutch business applications maker Baan faces a takeover bid or a break-up, after the latest tumble in the troubled firm's stock price. Baan shares fell as much as 34% in morning trading, taking their year-to-date slide to 85%. Analysts suggested that the decline might threaten a $135 million debt-for-equity swap with Bear Stearns, which, with a series of asset sales, was designed to keep the company afloat...
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