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

To: DavidG who wrote (41686)	12/24/1998 9:27:00 AM
From: Bipin Prasad	Respond to of 53903

A few points re: Hyundai, It's true HD Elec has the highest debt among Korean Semis, but they have the best tech among them too. HD Elec is trying not to merge with LGS which does not mean they won't merge with a 3rd semi, probably with non-Korean Semi, imo. They have huge pool of PhDs. HDE will not go bankrupt, no way. One more thing. Korea as whole is recovering from '98's slump. So another 50% currency devaluation is far fetched claim. re: MU, MU is overvalued. The strongest season is over. It's dead money till next fall after short lived Jan rally, imo. later, InSook

To: DavidG who wrote (41686)	12/24/1998 9:29:00 AM
From: Bipin Prasad	Read Replies (2) \| Respond to of 53903

Micron Technology Inc. (MU) 54: --UPDATE-- CS First Boston reiterates "strong buy" on memory chip maker and raises 12-month price target from $65 to $70; Q1 results upside driven by lower-than-expected drag from integrating Texas Instruments operations, though sales were lower than projected; technology road map on track to support 20%-25% sequential bit production growth rates through 1999; raises FY99 EPS from loss of $0.24 to loss of $0.12 and initiates FY00 EPS estimate of $3.10 a share.....

To: DavidG who wrote (41686)	12/24/1998 10:16:00 AM
From: DJBEINO	Respond to of 53903

Hyundai Takes 70 Pct Stake in Newly-Merged Chip Firm 12/24, 18:19 After months of haggling under the international spotlight, the verdict is in. Hyundai Electronics Industries has been given the controlling 70-percent stake in a new company to be formed as a merger with LG Semicon. In its final recommendation yesterday, international consultants Arthur D. Little said the competitiveness of the new semiconductor giant would be enhanced if HEI was to have control over management. However, LG immediately waged protest, saying that it cannot accept the recommendation since it was made without properly reviewing its materials for evaluation, thus creating another dark shadow on what the future holds. In a statement, LG said, ''LG is in agreement that a merger may be necessary for boosting the competitiveness of the two companies but we have failed to reach agreement on the criteria for evaluation.'' While the protest has been anticipated, LG is not in a place to simply reject the recommendation since it is generally seen as a direct violation of promises that it has made up until now. Commerce, Industry and Energy Minister Park Tae-young, upon hearing the news, said HEI and LG will have to accept the recommendation. If not, creditors will retrieve and stop all new loans to the company which refuses to comply. Despite the protest, ADL's ruling provides the necessary opportunity for the two companies to proceed to establish the new company by combining and reorganizing their assets and debts over the next few months. ''If all goes well, the new company should be in place by around April. And it is in the best interest of the new company that the process is expedited,'' said ADL managing director Chung Taesoo. Before the recommendation was made public yesterday afternoon, there has been all sorts of speculations, one of which was that ADL may refrain from making a clear-cut choice between the two companies. ADL, however, concluded its month-long evaluations in favor of HEI based on the competitiveness for the future, technological advantage, productivity and management and marketing expertise. The merger will immediately create the world's second largest producer of dynamic random access memory chips after Samsung Electronics and the one, at least by this year's estimates, with the largest production capacity. The merger between the two companies was pursued as part of the overall restructuring of the top five conglomerates but there has been trouble right from the start and there were questions as to whether or not it will work. For one thing, LG has been holding out from cooperating fully with ADL during the evaluation process and the government has applied heavy pressure over the past week for the two companies to keep to their commitments. The selection of HEI as the majority owner of the new company has more implications than just the benefits that it will bring to Hyundai. For one thing, it is certain to improve investor confidence. ''Foreign investors have been watching the HEI-LG deal closely since it is the positive sign,'' said one official of the Federation of Korean Industries.