Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : All American Semiconductor (semi) -- Ignore unavailable to you. Want to Upgrade?

To: Harold Feller who wrote (797)	9/22/1998 12:32:00 PM
From: DEER HUNTER	Read Replies (1) \| Respond to of 952

*****news***** Tuesday September 22, 9:39 am Eastern Time Reptron , All American change merger terms TAMPA, Fla., Sept 22 (Reuters) - The terms of Reptron Electronics Inc.'s acquisition of All American Semiconductor Inc. (Nasdaq:SEMI - news) have been renegotiated because Reptron's stock price has fallen so much since the deal was struck three months ago, Reptron said Tuesday. Reptron Chief Operating Officer Paul Plante told Reuters that under the new terms, Reptron will pay cash and stock, rather than just stock, for All American, a distributor of semiconductors. The new terms cut the value of the deal to about $90 million from $100 million originally, Plante said. In a joint statement, the companies said All American shareholders would receive the equivalent of at least $2 per share, consisting of a cash payment of between $1 and $1.10 plus between 0.1695 and 0.20 Reptron share. ''It is currently expected that in no event will stockholders of All American receive less than $1 in cash and 0.1695 of a (Reptron) share,'' the statement said. Under the original terms, Reptron was to swap 0.2222 share for each All American share. ''Because of the volatility in the stock market, it is very difficult to complete an all-stock transaction,'' said Plante. ''The whole (semiconductor) sector has fallen by 40 percent in stock value since we signed the deal.'' Reptron's stock has fallen from 22-10/16 on June 23, the day after the deal was announced, to 5-15/16 yesterday. During the same period, All American's stock has edged slightly higher, from 15/16 to 1-2/16. Plante said the companies had postponed the deadline for the deal's closure from October to sometime near the end of the year. Reptron is an electronics components distributor.