Editing Datapoint (section)

==Edelman takeover==
In December 1984, [[corporate raid]]er [[Asher Edelman|Asher B. Edelman]] revealed that he had built up an 8% holding in Datapoint.<ref>{{cite web|url=https://www.nytimes.com/1984/12/13/business/datapoint-seeks-to-thwart-bid.html|title=Datapoint Seeks To Thwart Bid|agency=Associated Press|work=The New York Times|date=December 13, 1984|access-date=August 17, 2012}}</ref> In the same month Edelman offered $23 a share, or $416.3 million, to acquire the company. Datapoint's board rejected the offer but began inviting takeover proposals from other interested parties. Edelman then withdrew his bid, and began directly seeking shareholders' consent to oust Datapoint's board, replace them with his own designees and then sell the company to a third party or parties; his business takeover pattern deployed in other companies.<ref>{{cite web|url=https://www.latimes.com/archives/la-xpm-1985-01-30-fi-5740-story.html|title=Board Targeted at Datapoint|agency=Associated Press|work=[[Los Angeles Times]]|date=January 30, 1985|access-date=August 17, 2012}}</ref> Datapoint's board resultantly changed the company's bylaws to make the consent solicitation more difficult, a change Edelman later successfully blocked in court. In February 1985, Datapoint reported its predicted increased loss for the last quarter 1984, of $15.9 million.<ref>{{cite web|url=https://www.latimes.com/archives/la-xpm-1985-02-27-fi-8952-story.html|title=Datapoint Reports Loss of $15.9 Million in Quarter|agency=Associated Press|work=Los Angeles Times|date=February 27, 1985|access-date=August 17, 2012}}</ref> After a three-month fight, on March 16 the board of Datapoint agreed to restructure the company, led by the immediate resignation of O'Kelley and his replacement as chairman by Edelman, who dropped his legal challenges.<ref>{{cite web|url=https://www.latimes.com/archives/la-xpm-1985-03-16-fi-27179-story.html|title=Datapoint Gives Dissident Post of Chairman|agency=Associated Press|work=Los Angeles Times|date=March 16, 1985|access-date=August 17, 2012}}</ref>