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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 241.92+8.5%Jan 21 3:59 PM EST
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To: Stitch who wrote (2000)1/7/1998 1:13:00 AM
From: Gus  Read Replies (1) of 9256
 
Delayed responses, Stitch.

RE: KR Precision

"...I wouldnt be surprised if they had encountered backlog mushiness. What have you heard?"

Nothing. That Magnecomp article was the first time I heard of them and I was keying off the comment by one analyst in that article that KR Precision was having problems.

RE: Consolidation in Platters

Based on the 12/29/97 SEC filing, STMD paid $10 M in cash plus 2.0 million common A shares to buy Akashic from Kubota which is now a 10-11% passive investor in STMD. STMD also agreed to assume the purchase advances that WDC made to Akashic. I just skimmed through the entire document so somebody please check this for me, but apparently Kubota "ate" close to $247 million in Akashic parent company and bank loans to facilitate the sale!!! This would make this an incredible deal for Stormedia which got the following:

1) Certain Akashic thin film patents;

2) Two Akashic media facilities and a substrate facility in California and a new substrate plant in Malyasia;

sec.gov

I'm sure I'm missing something here because this is deal is just too good to be true as far as STMD is concerned, glut or no glut. I'll read it again tomorrow.

More later, dude.

Regards,

Gus
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