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Technology Stocks : Phoenix Technologies (PTEC) -- Ignore unavailable to you. Want to Upgrade?


To: burt l seifman who wrote (2808)10/21/1998 10:32:00 PM
From: Marc Phelan  Read Replies (1) | Respond to of 3624
 
Burt,

Intel Corp. (INTC) will acquire 644,379 Phoenix Technologies Ltd. common shares on Dec. 15 pursuant to a warrant agreement with the company.

On December 15, 1998 644,379 shares will cost Intel $14.047 per share or 9 million dollars under the agreement. Why the heck would they exercise their warrant rather than buying on the open market at half the price?

Marc