WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 163.00

-0.4%

Nov 7 9:30 AM EST

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To: Art Bechhoefer who wrote (8625)	1/9/2000 12:03:00 PM
From: Ausdauer	Read Replies (1) of 60323

Art and Thread, S3 to realize one-time gain. go2net.newsalert.com The gain represents the appreciation of S3's investment in United Semiconductor Corporation (USC). The event that triggered this gain is the now completed merger of USC into United Microelectronics Corporation (UMC). As a result of this merger, S3 now owns approximately 252 million shares of UMC. The gain, which S3 is required to recognize as "Other Income" upon completion of the merger, represents the difference between S3's cost of its investments in USC and the most recent quoted market price of UMC shares on the Taiwan Stock Exchange. Due to regulatory restrictions, the majority of the company's UMC shares may not be sold until July 2000. These regulatory restrictions will gradually expire between July 2000 and January 2004. As the regulatory restrictions expire, and if the company liquidates its UMC shares, it is likely that the amount of any future realized gain will be different than the accounting gain reported in the first calendar quarter. The N.Y. Times reported that seemingly contradictory information... The United Microelectronics Corporations bought S3's stake in United Semiconductor Corporations and completed the purchase of three other former joint-venture chip makers yesterday. Anybody aware of SanDisk's equity interest in UMC? umcgroup.com Ausdauer

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