Veeco Instruments-Who? Message Board

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Technology Stocks : Veeco Instruments-Who?

VECO 28.75

-1.4%

Oct 31 9:30 AM EDT

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To: Zeev Hed who wrote (2970)	11/21/2002 9:38:09 AM
From: The Ox	of 3069

No, I don't believe that is correct. It is my understanding that the $1 billion figure was the value of 44 million shares back in July of this year, when VECO was trading over $20 and FEIC was trading in the mid 20s. That billion has been more than cut in half, reducing the good will substantially. Even if VECO's stock price rises back to $20/share before they complete the acquisition, they would simply have a much larger "good will" figure on the balance sheet BUT that would NOT have an effect on the tangible book, which would still be slightly less than $600 million. It would distort shareholder assets and book value, NOT tangible book, which already discounts all "intangible" assets. Regardless of the price being paid by VECO for FEIC, the tangible book per share should remain around $7.75/share.

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