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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (34059)	10/16/1998 1:52:00 PM
From: Kerry Phineas	Read Replies (1) of 132070

MB, note the wording on the INTC announcement. Confirming weeks of speculation, Intel Corp. agreed Friday to buy a $500 million stake in memory-chip maker Micron Technology Inc. Under the agreement, Intel will acquire stock rights that can be exchanged for up to 6 percent of Micron's outstanding common stock. $500M/.06 would value the company at approximately $8.3B, which is greater than the current market value and which would suggest more debt, with some kind of warrant, (right?). Would definitely be interested in hearing whatever insight you might have into this one.

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