Sign in Subscribe
Information technology services industry

Computer Horizons Corp. Defends Against Crescendo Partners' Merger Block Attempt

Strategic Insights

— 2 min read

Mountain Lakes, N.J.-based Computer Horizons Corp. has announced that the Supreme Court for the State of New York has denied Crescendo Partners' request for an immediate injunction to block the merger with Analysts International, and has set a hearing date for August 30, 2005. The company's President and CEO, William J. Murphy, stated that the lawsuit is "without merit" and a "desperate attempt" by Crescendo Partners to seize control of the company without paying a premium to shareholders.

The proposed merger between Computer Horizons and Analysts International is a strategically sound move that was announced four months ago. Computer Horizons provides professional information technology (IT) services to a broad array of vertical markets, including financial services, healthcare, pharmaceutical, telecom, consumer packaged goods, and the federal government. The company's subsidiary, RGII Technologies, Inc., offers IT services, while Chimes uses its proprietary technology to enable business planning with human resource management across an enterprise's business functions.

Key Takeaways:

  • Computer Horizons Corp. has been denied a request for an immediate injunction by the Supreme Court of New York to block the proposed merger with Analysts International, with a hearing date set for August 30, 2005.
  • The lawsuit was filed by Crescendo Partners, who the company claims is attempting to seize control without paying a premium to shareholders.
  • Computer Horizons provides professional IT services to various vertical markets, including financial services, healthcare, and the federal government.
  • The proposed merger with Analysts International is a strategically sound move announced four months prior.
  • William J. Murphy, President and CEO of Computer Horizons, believes the lawsuit is "without merit" and a desperate attempt by Crescendo Partners.
  • Computer Horizons' subsidiary, RGII Technologies, Inc., offers comprehensive IT services to a range of industries.
  • The company's proprietary Chimes technology enables business planning and human resource management across enterprise functions.

Statistics:

  • August 30, 2005: Hearing date set by the Supreme Court of New York regarding the merger.
  • September 2nd: Special meeting of Computer Horizons shareholders.
  • Four months ago: Proposed merger with Analysts International was announced by Computer Horizons.
  • 2005: Year in which Computer Horizons and Analysts International filed Proxy Statements for their Annual Meetings of Shareholders, as well as a registration statement on Form S-4 and related joint proxy statement/prospectus.
  • 973-299-4105: Phone number for Computer Horizons Corp.
  • 917-575-7265: Phone number for investors.

Sources:

  • "Computer Horizons Corp. Announces Supreme Court Ruling in Favor of Merger with Analysts International." PRNewswire-FirstCall, August 24, 2005.
  • "Computer Horizons Corp. and Analysts International Corporation Announce Proposed Merger." SEC Filing, 2005.
  • "Computer Horizons Corp. Proxy Statement for 2005 Annual Meeting of Shareholders." SEC Filing, April 11, 2005.
  • "Analysts International Corporation Proxy Statement for 2005 Annual Meeting of Shareholders." SEC Filing, April 22, 2005.

Read more