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 : SWKS - Skyworks Solutions, Inc (was AHAA) -- Ignore unavailable to you. Want to Upgrade?

To: riposte who wrote (1181)	12/17/2001 11:45:09 AM
From: Czechsinthemail	Read Replies (1) \| Respond to of 1698

Alpha rises on Conexant merger By Carolyn Pritchard, CBS MarketWatch.com Last Update: 10:39 AM ET Dec. 17, 2001 WOBURN, Mass. (CBS.MW) -- Shares of Alpha Industries (AHAA: news, chart, profile) soared $4.30, or 20.3 percent, to $25.50 in early trading Monday after the company said it would merge with the wireless business of Conexant Systems. Conexant's (CNXT: news, chart, profile) stock also gained, rising $1.78, or 11.2 percent, to $17.64. The deal will create a new company with a combined value of approximately $3 billion, based on Friday's closing stock prices. The company's name and ticker symbol will be announced in the next few months. Conexant shareholders will own 67 percent of the new company's shares, and Alpha shareholders will own 33 percent. The new company will buy Conexant's semiconductor assembly, module manufacturing and test facility in Mexicali, Mexico for $150 million in cash. The deal is expected to close in the second quarter of 2002. Separately, Conexant said that due to stronger-than-expected performance its in wireless division it expects fiscal first-quarter revenue to be higher than previously expected. The Newport Beach, Calif.-based maker of semiconductor systems for the communications industry now expects revenue for the period to come in at approximately $221.1 million. That is about 10 percent higher than the $201 million reported in the fourth quarter of 2001. Analyst surveyed by Thomson Financial/First Call had forecast revenue of $211.8 million. marketwatch.com