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Technology Stocks : Texas Instruments - Good buy now or should we wait?
TXN 180.12-1.4%3:59 PM EST

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To: pat mudge who wrote (3776)6/18/1998 5:25:00 PM
From: Charlie Smith  Read Replies (1) of 6180
 
Pat:

There is some confusion about the exact deal proceeds. To me it looks like this:

$640mm MU common (28.9mm shs @ $22.5)
$550mm (mkt val) 7 yr 6.5% cvt notes ($740mm face)
$170mm (mkt val) 7 yr 6.5% sub notes ($210mm face)
$190mm assumed TXN debt (Italian facility)

minus

$750mm cash from TXN to MU to upgrade facilities

equals

$800mm net proceeds

Comments?

Charlie
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