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M2 PRESSWIRE-4 April 2000-COMPUTER ASSOCIATES: Computer Associates tender offer for Sterling closes with more than 90 percent acceptance; CA to outline product development strategies and directions for Sterling Products at CA-World 2000 in New Orleans (C)1994-2000 M2 COMMUNICATIONS LTD
ISLANDIA, N.Y. -- Computer Associates International, Inc. (NYSE: CA) today announced the expiration of the tender offer by its wholly owned subsidiary, Silversmith Acquisition Corp., for all of the outstanding shares of Sterling Software, Inc. (NYSE: SSW) common stock at an exchange ratio of 0.5634 shares of CA common stock for each share of common stock of Sterling. The offer expired at midnight New York time on Friday, March 31, 2000. All shares validly tendered (and not properly withdrawn) prior to the expiration have been accepted for exchange and will be exchanged promptly for CA shares and for cash for fractional shares.
Approximately 75,906,290 shares were tendered (including through notices...