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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Craig Freeman who wrote (8404)	12/14/1999 6:56:00 AM
From: Ausdauer	Read Replies (1) \| Respond to of 60323

Craig, Could you detail the arrangements in your last post. I still don't understand how this type of offering works. Also, who pays the interest on the convertible until such time that shares are converted? Ausdauer

To: Craig Freeman who wrote (8404)	12/14/1999 12:03:00 PM
From: Sam	Respond to of 60323

Craig, Seagate already gets long term treatment (assuming that corporations get the benefit of long term gains, which I am not really sure of) of their shares, which were purchased years ago, before Sandisk was even a public company. However, I think that they would get to defer the gain until they deliver the shares. I'm not really sure that that is such a great idea, since their drive business is not so hot right now, but things get complicated with them because of their sale of Veritas stock earlier this year, and they possibly will sell some more later in the year though I have no knowledge of this. So that just leaves everything where it was--it is just a WAG, and I wouldn't presume to even begin to know more about financing operations than Steven Luzco, especially given how complicated Seagate's financing is with all of their far flung foreign operations. Aus--I don't know how the convertible would work, I would guess that Seagate would pay the interest if the above WAG is true. But we'll have to see if it is or not. s.