Lam Research (LRCX, NASDAQ): To the Insiders Message Board

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Technology Stocks : Lam Research (LRCX, NASDAQ): To the Insiders

LRCX 142.62

+2.2%

Nov 21 9:30 AM EST

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To: Duker who wrote (2692)	4/1/1999 11:30:00 AM
From: Duker	Read Replies (2) of 5867

LAM Novellus up after merger talk NEW YORK, April 1 (Reuters) - Shares of LAM Research Corp. and Novellus Systems Inc. rose Thursday after a Merrill Lynch analyst said the semiconductor equipment maker may merge with Novellus (Nasdaq:NVLS - news). LAM was up 3-1/4 at 32-1/4 and was among volume leaders on the Nasdaq exchange. Volume in early morning was more than twice normal daily levels. Novellus was up 1-3/16 at 56-5/16. ''Because of a recent sequence of events, including a round of financing by Novellus, we ... believe that Novellus Systems and LAM Research may merge,'' Merrill analyst Mark Fitzgerald said in a report Thursday. ''These companies have long courted each other and may finally reach the altar. We believe that LAM is worth $35 to $40 a share, which is about two times sales.'' Spokesmen for LAM and Novellus were not immediately available for comment. The Philadelphia Stock Exchange's semiconductor index was (^SOXX - news) also stronger after the report, rising 1.58 percent.

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