Specifics Of Hostile Takeover Fiercely Boring

February 18, 2004 | Issue 40•07

NEW YORK—Details of a "hostile" bid by software manufacturer Octagon Corporation are, in fact, fiercely, mind-numbingly dull, sources reported Tuesday. "Following the SoftWave International board of directors' rejection of Octagon's unsolicited offer, Octagon essentially eliminated SoftWave as an entity by purchasing 300,000 shares at $453.35—$134.34 more than the current market value," financial analyst Bryan Falwick said, droning on endlessly about the supposedly thrilling upset. "Everyone was shocked when Octagon swooped in and nabbed controlling interest." Falwick said he assumed that the forthcoming rollout of the XSpreadsheet software suite motivated the "raid."