VLSI Technology - Waiting for good news from NASDAQ !!! Message Board

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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!

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To: BWAC who wrote (5533)	3/5/1999 11:38:00 AM
From: Ram Seetharaman	Read Replies (2) of 6565

Philips Suit! Friday March 5 11:27 AM ET Philips Sues To Block Poison Pill WILMINGTON, Del. (Reuters) - Philips Electronics NV has sued VLSI Technology Inc. (Nasdaq:VLSI - news) and its directors to prevent them from using a so-called poison pill defense against the $777 million hostile takeover bid Philips launched Friday. Philips, in papers filed in the Delaware Chancery Court Friday, said the VLSI board ''had refused to redeem the pill despite the attractiveness'' of Philips' offer. The pill will delay VLSI's shareholders' ability to receive Philips' consideration until it can replace the California computer chip maker's board with new members, Philips said in its filing.

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