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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: Ram Seetharaman who wrote (5596)3/8/1999 3:40:00 PM
From: Maui Jim  Read Replies (2) of 6565
 
What is happening: VLSI told Philips they want $25, PHG offered less. Both know VLSI shares would be worth a lot more two quarters from now. VLSI's BOD took actions to buy time, during which they are talking to other interested parties. VLSI has a responsibility to the shareholder's to evaluate all offers, and Philip's lost their chance to quickly complete the deal. Even if PHG agreed to the $25 today, VLSI still has a duty to follow through now on the other parties. This is in the shareholder's interest, as we don't necessarily care about saving jobs in the computing or STB divisions, the fate of the San Antonio fab, or even who the acquiring company is. Shareholder's just want the best possible price. IMO the BOD is doing their job. Jim
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