C-Cube Message Board - Msg: 8546407

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Technology Stocks : C-Cube

CUBE 36.44

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1:51 PM EST

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To: Stoctrash who wrote (39486)	3/26/1999 1:50:00 PM
From: J Fieb	Read Replies (1) of 50808

Philip's continues to hammer away at VLSI......... techweb.com VLSI Sets Record Date In Philips' Takeover Bid (03/24/99, 3:13 p.m. ET) By Staff, Semiconductor Business News VLSI Technology announced Tuesday that April 1 would be the date ofrecord for the proposed consent solicitation by Royal Philips Electronics, which isattempting to buy the San Jose, Calif., chip maker. Last week, VLSI Technology's board rejected Philips' unsolicited $777 million offer for outstanding shares as inadequate. VLSI also has filed preliminary consent revocation materials with the Security and Exchange Commission opposing the Philips' $17-per-share bid for stock. Philips has also filed papers with the SEC to oust VLSI Technology's board of directors as it prepares to take its cash tender offer to shareholders. Philips launched the takeover bid on Feb. 26, saying it wanted to acquire VLSI Technology to boost its presence in Silicon Valley and to add intellectual property for a number of system-on-chip applications. This may turn out to be interesting-Read that there are NO hostile takeovers in the valley 'cause if the valuable human intellectual capital doesn't like the deal they are gone and you bought nothing.

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