Network Associates Bids for All of McAfee

In a deal that is reported to be worth about $209 million, Network Associates is pursuing a tender offer for McAfee shares to acquire the remaining 25% of McAfee it does not own. McAfee was spun off by Network Associates in 1999. Network Associates has tried to reacquire McAfee twice, but has been hindered by accounting problems triggering income restatement and an accounting practices investigation by the Securities and Exchange Commission. In this latest offer, the shareholders have until midnight (Eastern Standard Time) September 12, 2002 to tender their shares.