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Technology Stocks : Spansion Inc.
CY 23.820.0%Apr 16 5:00 PM EST
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To: Pam who wrote (3145)1/23/2008 9:41:54 AM
From: bobs10  Read Replies (1) of 4590
 
you:

Of the $279 million in charges, $249 million related to the plans for STMicro’s Flash Memory Group which is due to be merged with that of Intel. STMicro and Intel have delayed the merger of their flash businesses and said that they were struggling to find banks willing to finance the venture. ST said it expected the deal to close in Q1 08.

me:

As a SPSN investor I can only hope that this drags out as long as possible. Why anyone would want to get involved in financing Numonyx is beyond my comprehension. Given the existing credit crunch one would expect that there are lots of other investments that make a lot more sense? Anyway, the longer this takes to complete the better for SPSN as the odds of it never getting done will continue to improve.
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