Disk Drive Sector Discussion Forum Message Board

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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 176.34

-5.8%

Dec 12 9:30 AM EST

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To: Frodo Baxter who wrote (5001)	11/25/1998 6:36:00 PM
From: Mark Oliver	Read Replies (1) of 9256

Lawrence, are you still short APM? It would seem that this deal would give some renewed confidence in APM. What are your thoughts? Regards, Mark Applied Magnetics, DAS Devices to merge GOLETA, Calif., Nov 25 (Reuters) - Applied Magnetics Corp. and DAS Devices Inc., both makers of computer hard disk drive products, said Wednesday they have agreed for Applied Magnetics to acquire DAS for 13 million Applied Magnetics shares. Applied Magnetics has also entered into an agreement with certain institutional investors to raise $20 million simultaneously with the completion of the merger, through a private placement of common equity. ''The combination of these two companies creates a unique synergy that will combine DAS Devices' proprietary and patented state-of-the-art wafer technology with Applied Magnetics' high-volume manufacturing capability,'' said Craig Crisman, chief executive officer of Applied Magnetics.

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