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Technology Stocks : LSI Corporation

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To: Skywatcher who wrote (25782)	12/4/2006 9:22:37 AM
From: sixty2nds	of 25814

06:51 LSI LSI Logic to buy Agere in $4 bln stock deal - WSJ Online (10.56 ) According to the WSJ Online, chip maker LSI said Monday it agreed to buy semiconductor co Agere Systems (AGR) in an all-stock deal valued at around $4 bln. The combined company, to be called LSI Logic Corporation, will offer building-block solutions including semiconductors, systems and related software for storage, networking and consumer-electronics products. LSI said Agere shareholders will receive 2.16 LSI shares for each Agere share they hold. The deal values Agere shares at $22.81, a 28% premium to Agere's Friday closing price of $17.79. The companies had combined revenue of $3.5 bln for the 12 months ended Sept. 30, 2006. And LSI said it expects the deal to slightly dilute 2007 earnings and to boost earnings from 2008 onwards.

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