NAI Pushes Forward on McAfee Deal
SEC declared NAI's registration statement for exchange offer effective; offer expires Thursday.Network Associates Inc. on Tuesday moved one step closer to bringing McAfee.com Corp. back under its corporate umbrella. The Securities and Exchange Commission declared NAIs registration statement regarding its exchange offer for McAfee.com effective. The offer expires Thursday at midnight EST. NAI, of Santa Clara, Calif., has been pursuing McAfee.com for most of the spring and summer, through a succession of increasingly higher exchange offers and subsequent rejections from McAfee. The courtship also was affected by the accounting problems that NAI disclosed earlier this year.
McAfee.com, which provides managed security services over the Web, mainly to consumers, is a key part of NAIs strategy for the future. NAI has recently whittled away many of its laggard product lines and divisions, and executives are intent on making each of the companys products into market leaders.