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Technology Stocks : Mattson Technology
MTSN 3.6000.0%May 12 5:00 PM EST
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To: ELH1006 who wrote (3360)5/9/2001 8:44:29 PM
From: ELH1006  Read Replies (1) of 3661
 
I went back and reviewed my notes relative to the merger and seem to be out of balance by some $200 million plus relative to the estimated goodwill account. My original estimate was calculated as follows:
Original Goodwill estimate in offering $396 mil
Reduction due to fall in MTSN price
from $35.48 to $10.44 based on
16.063486 mil shares issued to
Steag and CFMT (402)mil
Cash paid to Steag 1 mil
Revised goodwill $5 mil

Goodwill estimated in 1st quarter report$204 mil

Difference $199 mil

This large difference can generally only arise due to either a much larger cash burn by the acquired companies during the pre-merger time frame or a larger payment by MTSN than original reflected in the merger document. All I know is that the net working capital is much lower than what I was anticipating. Anyone out there know what has transpired?

Eddie
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