Sterling extended its offer for Informatics.
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Dallas-based Sterling Software moved the deadline for its $27-per-share offer to buy Informatics General stock to Aug. 7 from July 25 to allow more time to arrange financing. Sterling said it needs the time to sell $40 million in preferred stock to raise part of the $140 million needed to buy the Woodland Hills software company. The original plan was to rely entirely on so-called junk bonds, which are high-yield securities used to finance takeovers.
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