Winbond might get bought..............................
eet.com
Posted: 5:30 p.m., EDT, 9/4/98
ISD mulls purchase by Winbond
By Craig Matsumoto
SAN JOSE, Calif. - The board of Information Storage Devices Inc. is continuing to discuss the company's possible acquisition by its foundry partner, Winbond Electronics Corp.
Winbond in late July offered to acquire ISD at $8.25 per share. Winbond, which serves as a foundry for ISD's audio-storage chips, began heavily acquiring ISD stock in April and May at prices just below $6 per share, according to documents filed with the Securities and Exchange Commission.
By July, Winbond had amassed 1.4 million shares, giving it more than 14 percent ownership of ISD. At that point, according to SEC filings, Winbond vice president Archie Yeh hand-delivered to ISD chairman David Angel an acquisition offer priced at $8.25 per share.
In SEC documents filed in June, ISD officials made note of Winbond's stock purchases and said Winbond had hinted at an eventual acquisition. ISD was not interested in being acquired at the time, according to the documents, but the company announced on Thursday that it was still discussing Winbond's offer, and was also examining "other strategic alternatives."
ISD officials were not available for comment.
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