The board of software giant Computer Associates (CA) is making its final appeal to shareholders to support it in the impending proxy battle with Texan billionaire Sam Wyly.
The company has written to its shareholders urging them to ignore voting cards sent by Wyly. It has also asked them to return a white proxy card before 29 August to register support for the existing management team.
"If you do not return your signed and dated white proxy card, your vote will not be counted for CA's board, and you will not be supporting CA's management," the letter warned.
Since unveiling his plans two months ago to take over CA and split it into four separate companies, Wyly has stepped up his efforts to unseat CA's current board, who he has claimed do not care enough about partners, customers and employees.
Last month, the investment firm representing Wyly in the takeover bid released details of a confidential survey, commissioned by CA, which harshly criticised the company's treatment of its customers.
Owen Blicksilver, a representative for CA, told vnunet.com's sister publication Computer Reseller News that it was confident of the outcome of the proxy vote and the letters were a means of "attracting shareholders' attention over the busy summer months".
Blicksilver claimed that the issues for which CA is being criticised happened "years ago" and have "already been addressed and are improving".
Analysts have said that the takeover bid will fail but the resulting publicity could pressure CA's board to improve its performance.
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