Amdahl Shareholders Sue to Stop Fujitsu Bid

Amdahl Corp. shareholders filed 10 lawsuits in Delaware Chancery Court to stop Japan’s Fujitsu Ltd. from acquiring the Sunnyvale-based computer maker, claiming the $12-a-share, $850-million bid is too low. One of the suits charges that Amdahl directors are not looking out for the interests of smaller shareholders because Fujitsu is Amdahl’s controlling shareholder with 42% of its stock. Fujitsu’s cash bid, announced July 30, came in just above Amdahl’s closing share price of $11.81 on July 29. One of the suit’s requests for a preliminary order stopping the transaction is set to be held in Chancery Court on Aug. 28. Details on other Delaware cases weren’t immediately available. Tokyo-based Fujitsu, the world’s fourth-largest computer maker, has said that its offer comes with a sufficient premium because Amdahl shares dipped as low as $9.75 the week before the acquisition agreement was announced. Stockholders also have filed two lawsuits in Santa Clara County Superior Court seeking to stop the acquisition. Amdahl officials could not be immediately reached for comment. Amdahl shares fell 6 cents to close at $11.88 on the American Stock Exchange.