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

To: MulhollandDrive who wrote (44984)	1/13/1998 12:30:00 PM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Betty and Intel Investors - Intel is IN THE CHIPS FTC won't Block Intel's Acquisition of Chips and Technolgy. Paul {===============================} Tuesday January 13, 10:27 am Eastern Time FTC clears path for Intel graphic chip acquisition WASHINGTON, Jan 13 (Reuters) - The Federal Trade Commission said on Tuesday it would continue to investigate Intel Corp.'s (Nasdaq:INTC - news) $420 million acquisition of Chips and Technologies Inc. (Nasdaq:CHPS - news), a leading maker of graphics chips for laptop computers. But facing Intel's announced closing date of the merger, the agency said it would not seek a preliminary injunction to halt the transaction. Instead, the investigation will become part of the agency's ongoing, broad review of Intel's business practices. ''Because we have concerns about the impact of this transaction on competition in markets for certain computer components, we have chosen to continue the investigation into the lawfulness of the acquisition,'' the agency said in a statement. The FTC reviewed the transaction for more than six months but did not turn up sufficient evidence to convince a court that the deal would hamper competition, sources familiar with the investigation said. If the continuing investigation turned up evidence of wrongdoing by Intel, the agency could seek to have the company divest Chips & Technologies. Based in San Jose, Calif., Chips and Technologies is a top supplier of flat panel video graphics controllers and accelerators for portable computers. The company is a so-called ''fabless'' company, using facilities owned by others to manufacture the products it designs and sells. More Quotes and News: Chips & Technologies Inc (Nasdaq:CHPS - news) Intel Corp (Nasdaq:INTC - news) Related News Categories: US Market News, computers, options, semiconductors