Ham Sandwich Inc. To Acquire IBM
Brockton, MA, March 3, 2011 -- Ham Sandwich Inc. announced today that it has signed a letter of intent to acquire all outstanding shares of common stock of International Business Machines Corp. (IBM) for $63 per share. The offer will be up for vote at a special meeting of shareholders scheduled for April 7, 2011. Should the tender be approved, the purchase will be the fifth major acquisition by Ham Sandwich this year, making it the 19th largest corporation in the world.
Ham Sandwich has skyrocketed on the markets since its inception in 2006, driven primarily on the proceeds of the now ubiquitous self-assembling ham sandwich that HSI patented in early 2007. A series of strategic acquisitions has led it to a market-leading position in the ham sandwich assembly product, procurement, distribution and cross-marketing arenas. The merger with IBM will allow HSI to streamline the digital production process and provide access to IBM's enormous worldwide customer base.
"We're planning to convert all those bleeping boxes to ham sandwich machines," says Rupert Dimplo, Vice President for Strategic Development. "Our corporate motto, of course, is 'A Self-Assembling Ham Sandwich on Every Countertop', and now we're expanding to include every desktop, air traffic controller's workstation, car rental agency counter, and so on. Workers everywhere will never need to leave their desks, or even stop typing, to prepare a delicious lunchtime entrée."
Cold Cod Securities has upgraded HSI to Strong Buy on the announcement. Shares of both IBM and HSI rose four and six percent, respectively, in after hours trading.
By Ion Zwitter, Avant News Editor
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