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Technology Stocks : HDCO - Why sudden dip? -- Ignore unavailable to you. Want to Upgrade?

To: Ron Kory who wrote (402)	3/20/1998 11:52:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 572

Ron ,Hadco completes CCIR merger. But note in its description of its business, HDCO lists its links to computer production- it does not appear that HDCO has a large exposure to the consumer side of the boxmakers...I'll have ot research that a bit, but an interesting possible point that I missed. Also if HDCO were to warn, it should come within the next week or so, as the pre-earnings announcement "quiet period" is rapidly approaching... My guess is that no warning will be issued.... (but that next quarter's statmeent might have the usual writeoff of "work in progress" at CCIR which gets terminated, if any, as a result of the merger... Company Press Release Hadco Announces Completion of Tender Offer and Merger SALEM, N.H.--(BUSINESS WIRE)--March 20, 1998--Hadco Corporation (Nasdaq:HDCO - news) announced today that its wholly-owned subsidiary, Hadco Acquisition Corp. II, had completed its tender offer for all outstanding shares of Continental Circuits [Nasdaq:CCIR - news] Corp. at $23.90 per share and had accepted for payment all shares validly tendered and not withdrawn. The offer commenced on Feb. 20, 1998 and expired at midnight, New York City time, on March 19, 1998. Based on a preliminary count, as of midnight, New York City time, on March 19, 1998, approximately 7.2 million shares had been validly tendered and not withdrawn (including approximately 90,000 shares tendered pursuant to guaranteed delivery procedures). Hadco also announced today that the merger of Hadco Acquisition Corp. II into Continental had been consummated, with the surviving corporation being renamed Hadco Phoenix Inc. As a result of the merger, Hadco Inc. is a wholly-owned subsidiary of Hadco. Pursuant to the merger, holders of Continental shares who did not tender their shares are entitled to receive $23.90 in cash for each share of Continental common stock previously held by them. Hadco also announced that former Continental stockholders who did not tender their shares will be mailed instructions to follow in order to obtain the payments they are entitled to receive as a result of the merger or to perfect appraisal rights. Hadco is the largest manufacturer of advanced electronic interconnect products in North America. The company offers a wide array of sophisticated manufacturing, engineering and systems integration services to meet its customers' electronic interconnect needs. The company's principal products are complex multilayer rigid printed circuits and backplane assemblies. Hadco provides customers with a range of products and services that includes development, design, quick-turn prototype, pre-production, volume products, and backplane assembly. Hadco's customers are a diverse group of original equipment manufacturers and contract manufacturers in the computing (mainly workstations, servers, mainframes, storage and notebooks), data communications/telecommunications and industrial automation industries, including process controls, automotive, medical and instrumentation. The company operates ten facilities, with nine facilities in the United States and one facility in Malaysia. Hadco Corp.'s press releases are available through Company News On-Call by fax: 800-758-5804, PIN No. 390325, or on the Internet at hadco.com:8080/