5 Affiliated directors will quit
From Times Wire Services
Five independent directors of Affiliated Computer Services Inc. said they would resign after the firm’s chairman blamed them for a failed $6.1-billion private equity buyout bid.
Chairman Darwin Deason, who was working with Cerberus Capital Management on the buyout bid, urged the directors to step down at a board meeting, saying they had lost shareholder support.
They responded that Deason had subverted their attempt to consider competing offers to Cerberus’ bid to “prevent superior alternatives to your proposal from being considered.â€