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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Mark Madden who wrote (1205)	11/18/1999 11:18:00 AM
From: Robert Douglas	Read Replies (2) \| Respond to of 1989

Interesting article for Seagate shareholders in this morning's WSJ. If you subscribe go to the Journal Atlas and click on story about Cox Communications: interactive.wsj.com Cox has the same problem that Seagate has. They own a bundle of Sprint shares with a gain of about $5 billion dollars. Merrill Lynch has devised a hybrid security called a "Prize" where Cox can get the money today and avoid paying the taxes to Uncle Sam. It is very complicated, but appears that it is kosher with the IRS. This may be the path Seagate will go down to get at their Veritas cache without paying $2 billion in taxes. I know Luczo must be familiar with this kind of transaction because of the aborted PEP trust that they were planning with SNDK shares. -Rob [Edit, If you try that link you'll need to go to the "Money" section to find the story headline on Cox.]