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Politics : Ask Michael Burke
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To: Earlie who wrote (46127)2/8/1999 8:15:00 PM
From: Ed Beers  Read Replies (1) of 132070
 
> Hopefully, some of the attendees will also ask about the fast-emerging "Rambus" problem,....by way of example, the company might even be asked how they expect to get back the $1.0 billion they are currently pouring into that very deep hole. <

Earlie,

The money they poured into MU may be fairly easy to retrieve
if I read the details in MU's annual report correctly. I think
that, on 3/31/99, they can buy 15.8 million shares of MU for $500M
(31 5/8). At the current market price, they could sell them for $1100M and pocket $600M just from the "Rights" they received.

Of course TI also has 28.9M shares that they can register on
3/31/99 so they may need to compete a little for buyers...

Now I'm not sure what Micron means when it says that the registration rights commence on 3/31/99. Is it a staged deal or all at once?

Ed
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