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Technology Stocks : LSI Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Jock Hutchinson who wrote (13260)	6/29/1998 8:44:00 AM
From: yousef hashmi	Respond to of 25814

1 08:41*T LSI Logic To Buy Symbios -2: Seeks Regulatory OK >LSI Q.HEL MILPITAS, Calif. (Dow Jones)--LSI Logic Corp. (LSI) signed a definitive agreement to acquire Hyundai Electronics America's Symbios Inc. unit for for $760 million, including assumed liabilities, payable in cash. Hyundai Electronics America, San Jose, Calif., is a U.S. unit of Hyundai Electronics Industries Co. (Q.HEL), Seoul, and Symbios Inc., Fort Collins, Colo., creates solutions for moving and storing information. In a press release, LSI Logic said it will record undisclosed in-process Symbios technology write-offs as a result of the transaction. LSI Logic expects the deal to close in the third quarter ending Sept. 30 and sees the deal adding to earnings per share in 1999. Based on 1997 figures, LSI said combined annual revenues of the company is about $1.9 billion. A First Call Corp. survey of 21 analysts estimates LSI Logic's fiscal 1999 net income at $1.55 a diluted share. For the year ended Dec. 31, 1997, LSI