WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 162.40

+2.9%

Nov 17 3:59 PM EST

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To: Garpy who wrote (15764)	10/19/2000 6:29:33 PM
From: Art Bechhoefer	Read Replies (1) of 60323

I think the SanDisk investment in Tower Semi is much larger. The deal calls for SanDisk to purchase new shares of Tower equal to 10 percent of the total number of shares outstanding, which, along with other commitments, would represent an investment of some $200 million, contingent on the Israeli government agreement to cover 20 percent of the $1.5 billion cost (which has been approved). The total amount of the SNDK investment is based in part on the market value of TSEM, which has dropped since the initial announcement. It's an interesting point, and I'll try to find the actual figures. Art

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