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To: Chris who wrote (10527)	6/18/1998 7:19:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 42787

tech fool your puts maybe saved +otter (3789 ) From: +Narotham Reddy Thursday, Jun 18 1998 7:06PM ET Reply # of 3792 Texas Instruments Inc.'s Outlook Revised To Negative By S&P Dow Jones Newswires NEW YORK -- Standard & Poor's Thursday revised Texas Instruments Inc.'s (TXN) outlook to negative from stable. TXN announced the sale of its memory business to Micron Technology Inc. for 28.9 million Micron shares (currently about $600 million), $950 million of notes from Micron, and Micron's assumption of $190 million of debt. TXN will also help fund Micron's technology transition at these fabs with $750 million of cash. Also, TXN will record significant charges related to both this transaction and a restructuring to reduce headcount by 3,500 people. Liquidity will remain adequate, although reduced by the cash portion of the restructuring charges and by the $750 million of cash in the transaction. TXN's memory business lost over $100 million in the first quarter and has a run rs transaction will remove future losses from this currently pressured business from TXN's reported earnings, over the near term, S&P views the transaction as a shift from direct participation in the memory business to indirect participation, via its significant Micron stock position and notes.