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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: The Prophet who wrote (10518)4/20/2000 7:42:00 AM
From: Michael A. Gottesman  Read Replies (1) of 60323
 
That was me. Finally got up the guts to ask the question. Actually I was pleased with the response as regards UMC:

1. Declared 20% stock dividend which brings the shares held up to 133,200,000 shares (I believe that the shares were treated with a price of 3.26 at time of merger - do the math). This is an enormous asset.

2. As part of the merger agreement, SNDK gets preferential treatment in access to capacity (as long as they retain ownership of shares)

3. 1/2 of the shares in UMC can be sold 6 months after the merger, remainder in 2002 but shares will not necessarily be sold after the 6 months period.

Mike
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