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: Linda Kaplan who wrote (5627)	3/9/1999 7:11:00 PM
From: Maui Jim	Read Replies (2) of 6565

This is my understanding regarding the LSI merger last summer. While VLSI's CEO was away, LSI approached VLSI's President/COO about merging the two companies. There never was an "official" offer, but discussions which centered on a stock swap, most likely 1:1. Since LSI was trading in the 20s at the time, the optimistic price of $28 came out. But it all depended on where LSI traded after the merger, and this could have been either higher or lower. Then you would only have seen that in cash if you sold your stock fairly soon, because summer led into a terrible September for tech shares, and VLSI and LSI were particularly clobbered, and LSI had some bad news and took a large write-off. The President and several other VLSI executives left after the deal fell apart, this was not a good time to hold VLSI shares. Since last October LSI stock has gone back to 29, and until the Philips offer VLSI couldn't get anyone interested in its stock which became mired in a low trading range, despite improving business and strong wireless IP. So there's a background summary-history.

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