Advanced Micro Devices - Moderated (AMD) Message Board

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Technology Stocks : Advanced Micro Devices - Moderated (AMD)

AMD 217.91

+0.9%

Dec 5 9:30 AM EST

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From: zx	12/8/2006 8:38:59 AM
	Read Replies (3) of 275872

08:33 INTC Intel: NOR Flash sale could be imminent - Amtech (20.65 ) Amtech believes that a private equity institution is at an advanced stage of preparing to acquire INTC's and STM's NOR Flash businesses. They believe that the due diligence process is far along and an announcement may be made in the near future. Firm notes the combined entity would have approximately $3 bln in annual revenue and it is likely that the deal would be valued at slightly less than 1X sales. Such a deal would lift INTC's EPS by $0.02/quarter (or a 6% increase to AmTech's FY07 EPS) with the exit of the NOR Flash business, which has been losing an average of $120 mln/quarter in 2006. Firm thinks that as a private co the combined INTC/STM NOR entity would be better situated to rationalize the business, refocus product offerings and re-emerge as a stronger stand-alone competitor for Spansion (SPSN).

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