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Technology Stocks : Alliance Semiconductor
ALSC 0.8100.0%Jul 10 5:00 PM EST
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To: Jim Green who wrote (2715)3/6/1998 3:43:00 PM
From: DJBEINO  Read Replies (1) of 9582
 
S3 denies takeover talks
LOS ANGELES, March 6 (Reuters) - Shares of computer chip maker S3 Inc rose sharply Friday amid widespread rumors it was in takeover talks, but the company denied all the rumors.
''I'm not aware of any talks that are going on,'' said spokeswoman Kelly Morris. ''There's nothing.''

S3 was one of the most active issues on Nasdaq Friday, up 1-1/2 to 7-1/4 in afternoon trade.

Among the rumors was a report published by Charles Payne of the investment newsletter Wall Street Strategies that S3 was in negotiations with Intel, in a deal ''for S3 to receive 14 dollars in Intel stock.''

Payne was not immediately available to elaborate and an Intel spokesman said it was the company's policy to not comment on rumors.

While some other chip makers were also named as potential buyers of S3, Fahnestock & Co Dan Scovel, said he considered the reports unlikely.

''Takeovers in the semiconductor industry are pretty uncommon,'' he said.

Scovel said S3 had recently acquired some patents from Cirrus Logic Inc (CRUS - news), but added that did not seem to be sufficient reason for another company to buy S3.

''It seems like a bit of a stretch that you'd buy the whole company for some patents that you could have acquired for a lot less,'' he said.
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