CA chief hits back in takeover battle

Brands leader of takeover posse 'Mickey Mouse'

Brands leader of takeover posse 'Mickey Mouse'

Computer Associates has stepped up its offensive on the takeover plans by Texan millionaire Sam Wyly. Speaking at CA World in Florida, Sanjay Kumar, CEO and president of CA, said Wyly's hostile takeover lacked logic and sense. Company chairman Charles Wang described his plans as "Mickey Mouse" ideas. Kumar said: "We think it's a big waste of time, but we'll fight the battle from the largest to the smallest shareholder." Kumar questioned the pedigree of Wyly and those he has enlisted to take over the firm, and said: "Mr Wyly didn't run Sterling Software. There are many Sterling Software employees who are now CA employees. You should ask them how many times they saw Mr Wyly in their careers at Sterling." He added: "I don't think any of them have experience in running a company." Wyly needs to win at least 51 per cent of votes at a shareholder meeting on 29 August to put his own management team in place at the New York-based software giant. Last year, Computer Associates purchased Sterling Software, of which Wyly was chairman, for $4bn in stock.