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Technology Stocks : LSI Corporation

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To: DavidG who wrote (13291)	6/30/1998 1:10:00 PM
From: Hightechhooper	of 25814

DavidG, Regarding <<First of all, if S&P kept LSI as a hold this should not be construed as negative but positive. Usually the acquirer of a company is put on watch and/or hit for a certain % by that market...neither happened. Besides I did not see or hear this anywhere, how about sharing the URL so we all can read contents.>> 6/29/98 10:35 am...STILL HOLD LSI LOGIC (LSI 24***) AS AGREES TO ACQUIRE SYMBIOS FOR $760 MILLION..At 1.2x Symbios' $620 million in '97 sales, view price as fair...Last Feb. Symbios had agreed to be acquired by Adaptec for $775 million, but deal fell through on regulatory issues...do not see same issues impeding this transaction, which slated to close in Q3...Acquisition will expand LSI's presence in high -end computing and storage markets...co. expects deal to be accretive to '99 EPS, but maintaining our estimates for now as await more info...Shares fairly valued at 15x $1.60 '99 estimate. This information is provided by Standard and Poor's MarketScope. David you know this is proprietary information and is not accessible with a generic url so I hope you appreciate it. For the record, S&P hated LSI BEFORE the debactle of last year and they obviously hate them even more now....15 times 1999 earnings is a fricken joke.

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