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Politics : Ask Michael Burke
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To: Freedom Fighter who wrote (77230)3/8/2000 10:35:00 AM
From: IceShark  Read Replies (1) of 132070
 
Wayne, The "scenario" boils down to MU having to get rid of debt or that anchor around their neck may drown them as well as some old fashioned greed. There is a $500mm convert out there - the one they can defer payment of interest on that was issued back in 97.

Anyway, we are now in the period that forced conversion can take place if the stock closes above 87.67 for at least 20 trading days out of 30 consecutive trading days. Conversion price is 67 and change.

Then there is the TXN $740mm convert (@ 60/sh), and all the tons of common shares TXN and INTC have (total 44.7mm) as well as employee options (tens of millions). So the scenario goes that everyone and their brother, including investment bankers, wants the price to pop up enough to trigger forced conversion of the 500mm and lets see where we can go from there. As in start selling or hedging like there is no tomorrow. -g-
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