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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Patsy Collins who wrote (86555)	8/3/1999 5:25:00 PM
From: Proud_Infidel	Respond to of 186894

Intel expects big charge for Level One buyout By Reuters Special to CNET News.com August 3, 1999, 11:15 a.m. PT WASHINGTON--Intel said it expects to take a charge of between $110 million and $330 million in the third quarter for in-process research and development related to its acquisition of Level One Communications. Intel, which expects the stock-for-stock deal to close in the same quarter, said it was currently gathering the necessary data for calculating the value of identifiable intangible assets, including the in-process R&D, according to its quarterly report filed with the Securities and Exchange Commission yesterday. The third-quarter charge of between $110 million and $330 million was based on a preliminary analysis, Intel, the big computer chipmaker based in Santa Clara, California, said in the SEC filing. Intel also said that the amount of goodwill and other intangible assets to be amortized is expected to be between $1.8 billion and $2 billion, with an estimated average useful life of five years. In March, Level One, the Sacramento-based maker of networking chips, agreed to be bought by Intel in a stock deal valued at $2.2 billion at the time. news.com