Late News.(Reynolds and Reynolds Co. on Friday defended its plan to be acquired by smaller competitor Universal Computer Systems Inc.)(Brief article)

Automotive News, September, 2006

Reynolds and Reynolds defends deal

Reynolds and Reynolds Co. on Friday defended its plan to be acquired by smaller competitor Universal Computer Systems Inc.

Reynolds CEO Fin O'Neill said in an e-mail to employees that Reynolds had solicited interest from other parties to determine whether it could find a better deal for shareholders. Three companies declined Reynolds' invitation to pursue merger talks.

"I recognize that we will continue to hear questions about what will happen after the merger,'' O'Neill said in the e-mail. "I also know that what really counts is what we do. I call it `walking the talk.' The $2.8 billion deal still requires regulatory and shareholder approvals.

- Ralph Kisiel

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