Rocky and Thread,
I think this should clear up a bunch of confusion about what's been happening to the share price this week.
Any questions?
Jim
May 11, 2000 13:40
Seagate Tech Allots 250,000 SanDisk Shares For Sale (SNDK,
SEG)
(NewsTraders.com)--Seagate Technology (SEG) plans to sell 250,000 shares of SanDisk
Corp. (SNDK), according to a Form 144 released today by the SEC.
Seagate reported its intention to sell the shares, worth $22.8 million, on May 4, using Banc
of America Securities as broker.
There are currently 66.5 million SanDisk shares outstanding, according to the filing.
Both companies make data storage solutions; Seagate held a 6.14% SanDisk stake,
comprised of 4.1 million shares, according to SanDisk's most recent proxy statement,
released in April.
Of note, a Form 144 only shows a filer's intent to sell the shares. Actual verification of the
sales, if and when they occur, would be provided in a subsequent filing.
Copyright 2000 NewsTraders Inc. All Rights Reserved 13:43 Thursday, May 11, 2000 |
