No. 2 computer maker Compaq Computer said on Friday it would not increase its $266 million takeover bid for Proxicom, after the Internet consulting firm said it favoured an alternative bid by South Africa`s Dimension Data Holdings.
"At this time, we do not feel current economics warrant increasing our bid for Proxicom," Peter Blackmore, Compaq`s executive vice president for worldwide sales and services, said in a statement.
On Thursday, Proxicom`s chief financial officer told Reuters that price was the main factor in evaluating any offers for the company. Earlier this month, Dimension Data said it countered Compaq`s offer for Proxicom with its own $376 million bid.
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