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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!!
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To: schlep who wrote (6498)5/28/1999 6:10:00 AM
From: Linda Kaplan  Read Replies (1) of 6565
 
Quote.com News Item #10264963
Headline: Philips'(AMS:PHG) VLSI buy clears regulatory hurdles

======================================================================
AMSTERDAM, May 28 (Reuters) - Philips Electronics NV said on
Friday its $1 billion purchase of California-based VLSI (NASDAQ:VLSI)
had cleared regulatory hurdles.
"Philips, VLSI and relevant authorities of the United States
government have reached agreement on arrangements to address
national security concerns relating to Philips' ownership of
VLSI," Philips said in a statement.
Antitrust authorities in Germany have also approved the
purchase, Philips said.
The Dutch electronics group upped its offer earlier this
month to $21 per VLSI share from an earlier $17 and secured the
agreement of the VLSI board.
Philips expects to close its tender offer for VLSI shares at
the end of the day New York time on June 1 (0400 GMT, June 2).
amsterdam.newsroom@reuters.com))

Copyright 1999, Reuters News Service
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