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.

Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: Carl R. who wrote (39492)	10/1/1998 9:35:00 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 53903

Texas Instruments,Microncomplete sale DALLAS, Oct 1 (Reuters) - Texas Instruments (TXN - news) said on Thursday it has completed the sale of its memory business to Micron Technology Inc (MU - news) and expects a pre-tax gain of about $100 million on the sale. Under the terms of the agreement, Texas Instruments said it received about 28.9 million shares of Micron common stock valued at $881 million as of the closing date. The Texas-based company also said it received $740 million in notes convertible into an additional 12 million shares of Micron common stock, and a $210 million subordinated note. The market value of the 6.5 percent convertible and subordinated notes is about $836 million, Texas Instruments said. In addition to the memory assets, Micron received $550 million in proceeds from financing provided by Texas Instruments to facilitate the deployment of Micron's technology throughout its new memory business. As part of the transaction, Micron also received a 10-year royalty-free cross license agreement, the company said. Texas Instruments company said the before-tax gain on the sale will be deferred until the repayment of the Texas Instrument-provided financing.