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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Alan Rosen who wrote (56910)	6/29/1998 9:34:00 PM
From: W. Frank	Respond to of 58324

Actually according to the Purchase agreement, it looks like Iomega will own 100% of Nomai. <<Under the Stock Purchase Agreement, which is expected to close Wednesday, July 1, 1998, Iomega will acquire a majority interest in Nomai, from its principal and other major shareholders, for 188 French francs per share, or approximately U.S. $21 million in the aggregate. Iomega will conduct a tender offer shortly, as required by French law, offering all other stockholders of Nomai the opportunity to sell their shares to Iomega for 188 French francs per share.>> The Augur

To: Alan Rosen who wrote (56910)	6/29/1998 10:12:00 PM
From: Rocky Reid	Read Replies (3) \| Respond to of 58324

HUGE CHARGES TO BE TAKEN IN AUGUST-AND POSSIBLY BEYOND biz.yahoo.com Iomega said it agreed to buy 53 percent, or majority control, of Nomai for about $21 million. Iomega will make a tender offer shortly for the remaining Nomai shares, paying another $20 million in cash, Sierk said. In addition, Iomega will pay $3 million to acquire technology owned by Nomai that allowed the company to produce its Iomega-compatible data storage disk products. The boards of both Nomai and Iomega have approved the deal. The purchase of the majority stake in Nomai is expected to close July 1. No shareholder approval is required, Sierk said. Sierk said his company will take an undetermined charge against earnings for the third quarter ending in August to cover some of the costs of the purchase. Iomega is going to have to eat over $40 MILLION in charges to pay for this. This is a disastor for the balance sheet.