Burroughs takeover On September 16, 1986, after the success of a second hostile takeover bid engineered by Burroughs Corporation CEO and former U.S. Secretary of the Treasury, Michael Blumenthal, Sperry Corporation merged with Burroughs Corporation. The newly merged company was renamed Unisys Corporation— a portmanteau of "united", "information", and "systems," while also referencing Sperry's well-known previous UNIVAC computer branding. The takeover came about even after Sperry used a "poison pill" in the form of a major share price hike to dissuade the hostile bid, the result of which caused Burroughs to borrow much more funding than was anticipated to complete the bid.
Burroughs takeover On September 16, 1986, after the success of a second hostile takeover bid engineered by Burroughs Corporation CEO and former US. Secretary of the Treasury, Michael Blumenthal, Sperry Corporation merged with Burroughs Corporation. The newly merged company was renamed Unisys Corporation— a portmanteau of "united", "information", and "systems," while also referencing Sperry's well-known previous UNIVAC computer brand.ing. The takeover came about even after Sperry used a "poison pill" in the form of a major share price hike to dissuade the hostile bid, the result of which caused Burroughs to borrow much more funding than was anticipated to complete the bid.