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Technology Stocks : Mattson Technology

MTSN 3.600

0.0%

May 12 5:00 PM EST

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To: ELH1006 who wrote (3250)	1/11/2001 8:02:29 PM
From: ELH1006	Read Replies (2) of 3661

I reviewed the original proforma that was prepared as part of the merger document and recalculated the goodwill amount. I used the closing price of MTSN on 1-2-01 since the transaction closed on 1-3-01. Assuming the respective balance sheets of Steag and CFMT are fairly close to the projections, I actually come up with a small amount of negative goodwill. My calculation is as follows: Original goodwill estimate $395.9 million Reduction due to fall in MTSN price from $35.48 to $10.44 and 16,063,486 shares issued to Steag and CFMT (402.2) Cash paid to Steag 1.0 _______ Revised goodwill (5.3) If you use the closing price of $11.63 on 1-3-01 the revised goodwill amount becomes a positive $13.8 million. Any way you look at it and based on a 5 year amortization period, the impact is quite small. Timing couldn't have been much better. Eddie

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