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MCTR News >> Mercator to Vigorously Protect the Rights of Its Stockholders from Action by Dissident Group
WILTON, Conn.--(BUSINESS WIRE)--March 17, 2003--Mercator Software, Inc. (Nasdsaq: MCTR), today announced that a small group of dissidents has stated that it intends to solicit proxies in an attempt to take control of the Company's Board of Directors.
Responding to the action, Roy C. King, Mercator's Chairman of the Board, President and Chief Executive Officer said, "Despite an industry downturn, Mercator's operating performance during 2002 exceeded that of its peer group. During this same period (a time of decreasing expenditures on Information Technology products in the market), Mercator's share of the enterprise application integration (EAI) market increased from 9.9% to 10.5%. We are disappointed that a small group of dissidents whose interests clearly appear to be focused on short-term gain would seek to change the direction of the Company at such a propitious moment."
King added, "The Company will take all appropriate steps to protect the interests of all of its stockholders and maximize stockholder value."