SI
SI
discoversearch

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 : VLSI Technology - Waiting for good news from NASDAQ !!!
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ram Seetharaman who wrote (5507)3/4/1999 5:32:00 PM
From: zbyslaw owczarczyk  Read Replies (2) of 6565
 
quote.bloomberg.com

Higher Offers

If VLSI doesn't abandon the defense, Philips said it will start a proxy fight in which it would seek
consent from a majority of shareholders to replace the board with its own nominees. ''This doesn't
inhibit negotiations with VLSI -- we hope we can negotiate a definitive agreement,'' said Philips
spokesman Jeremy Cohen. ''We're commencing the tender offer now, and we can do the two things in
parallel.''

VLSI shares rose 15/16 to 18 5/16, indicating that investors expect the company to sell for more
than what Philips is offering. San Jose, California-based VLSI spurned a higher bid from rival
semiconductor maker LSI Logic Corp. last year.

Philips shares fell 1.30 euros to 61.95 in Amsterdam. Its U.S.-listed shares fell 7/8 to 67 5/8.

VLSI shareholders filed suit in a Delaware court today asking company directors to consider the
original Philips bid and look for higher offers. VLSI investor Michael Bernstein said the shares are
worth more than $17 apiece.

Philips is probably willing to pay as much as $22 a share for the San Jose, California-based company,
said analysts in a Bloomberg News poll. Philips is flush with cash from the $5 billion sale of its stake
in music company PolyGram. ''The acquisition would be good for Philips -- the price therefore is not
really relevant,'' said Oscar Poos, an analyst at Bank Insinger de Beaufort.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News