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NCR Corp. Chairman Charles Exley Jr. said Friday his company has no plans to sell itself to AT&T despite the fact that directors set a minimum price.

Exley said his board set the $125-per-share minimum because it felt obligated to its shareholders to set a "full-value" price. He said NCR would fight any takeover by AT&T if that price isn't met.

"The fact that the board set a price does not mean that we want to sell the company -- the company is not for sale," he said.

AT&T launched a $90-a-share cash tender offer to NCR shareholders Thursday.

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