Disk Drive Sector Discussion Forum Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Disk Drive Sector Discussion Forum

WDC 282.58

+8.6%

Feb 6 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Mark Oliver who wrote (4559)	9/28/1998 5:08:00 PM
From: Sam	Read Replies (1) of 9256

MILPITAS, Calif.--(BUSINESS WIRE)--Sept. 28, 1998--Quantum Corporation (Nasdaq/NMS:QNTM - news), the worldwide revenue leader among all classes of tape drives, today announced it has completed the acquisition of ATL Products Inc. in an all-stock transaction valued at approximately $300 million. As a result of the acquisition, all common shares of ATL will be converted into Quantum shares at an exchange rate of 1.7554 Quantum shares for each ATL share, and all ATL stock options will be assumed by Quantum. As previously announced, Quantum intends to repurchase a substantial number of its outstanding shares of stock to significantly offset dilution created by this all-stock transaction. The total number of shares of Quantum common stock to be issued pursuant to the transaction is approximately 18.8 million. Since May 1998, the company has repurchased approximately 12.6 million shares of common stock. Quantum has obtained approval from its board of directors and currently intends to spend an additional $40 million to repurchase additional shares as part of this transaction.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next