Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: jim kelley who wrote (71424)	5/1/2001 9:53:01 AM
From: Don Green	Read Replies (1) \| Respond to of 93625

Micron sells assets of PC business By John G. Spooner Special to CNET News.com May 1, 2001, 6:20 a.m. PT news.cnet.com Micron Electronics said on Tuesday that it has sold the assets and liabilities of its PC business to investment firm Gores Technology Group for an undisclosed amount. Gores specializes in buying ailing businesses and turning them around. Most recently, it purchased The Learning Company from Mattel. The deal is expected to close within approximately 30 days, Micron said. "Given the realities of the tough PC environment, and our desire to conserve cash to fund our hosting growth strategy, we believe this deal provides the best possible outcome for our shareholders and speeds our path to profitability," said Joel Kocher, chairman and chief executive officer of Micron. In March Micron said it was exiting the PC business and merging with Web hosting company Interland in a $130 million stock deal intended to transform the company into a hosting company. Under the agreement, Gores will assume assets and liabilities of Micron Electronics' PC business and Micron will contribute $70 million in cash to be used as working capital. Once the sale is closed, Micron will turn its attention to building its HostPro Web hosting business. Micron expects to have more than $200 million in cash and other liquid assets following the sale to help launch its combined HostPro/Interland hosting business. Micron will no longer fund the PC business, once its sale is complete.

To: jim kelley who wrote (71424)	5/1/2001 3:14:21 PM
From: Ali Chen	Respond to of 93625

"Tinkershaw seems to think there are a lot of grounds for appeal. He is a lawyer" Ha-Ha-Ha! He is a BA student.