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Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: Dale Stempson who wrote (5783)	1/13/1999 10:50:00 AM
From: KM	Respond to of 10072

Give it a few more hours

To: Dale Stempson who wrote (5783)	1/13/1999 11:12:00 AM
From: Kevin	Read Replies (1) \| Respond to of 10072

It's too bad the news came out on a day like today I'm glad the news came out on a day like today. Creates a good buying opportunity!

To: Dale Stempson who wrote (5783)	1/13/1999 12:12:00 PM
From: Mel Boreham	Read Replies (1) \| Respond to of 10072

Dale, here is what Syquest is saying about the sale of its assets to Iomega... A bit of a shift in perspective from the IOM press release, but all in all a Good Move by Iomega. Mel Related QuotesIOM SYQT 8 7/8 0 -1/4 +0 delayed 20 mins - disclaimerWednesday January 13, 11:23 am Eastern Time Company Press Release SyQuest Technology Signs Definitive Agreement With Iomega for the Sale of Select Assets Agreement Includes Sale of All Intellectual Property and U.S. Inventory FREMONT, Calif.--(BUSINESS WIRE)--Jan. 13, 1999--SyQuest Technology, Inc. (Nasdaq:SYQT - news) announced today that it has entered into a definitive agreement with Iomega Corporation (NYSE:IOM - news) to sell certain assets including all of its intellectual property, its U.S. inventory and its U.S. fixed assets for $9.5 million in cash, subject to certain closing conditions and adjustments. SyQuest filed a motion on Jan. 12 in the United States Bankruptcy Court to seek approval for the sale of these assets to Iomega. Specific conditions to closing the asset sale include Iomega's acquisition of the inventory and equipment assets of SyQuest's Malaysian subsidiary for additional consideration. ''We have reviewed the Iomega offer and alternative offers closely. SyQuest's accounts receivable and claims for tax and other refunds are being retained by SyQuest to provide further value to our creditors beyond the cash offer to be paid by Iomega,'' SyQuest commented. ''To best serve our loyal installed base of users, we have been working diligently to negotiate the best possible agreement that would address their needs.'' The proposed sale of assets is not likely to provide any return to shareholders. As previously announced, SyQuest has commenced limited sales and support operations. This includes online technical support via the World Wide Web, warranty returns, and product service operations. The company anticipates adding additional customer service and technical support resources in the near future. The United States Bankruptcy Court scheduled a hearing for January 19, 1999, to establish sale procedures in connection with the proposed sale of assets, including provisions for considering alternative purchase proposals. SyQuest filed a Chapter 11 petition with the United States Bankruptcy Court in Oakland, California on November 17, 1998. Trading in SyQuest stock was suspended on November 2, 1998, and the Company's shares are likely to be delisted from NASDAQ in the very near future. This news release contains forward-looking statements that involve risks and uncertainties, and other risks detailed from time to time in the SEC reports filed by SyQuest including its most recent reports on Forms 8K, 10K and 10Q. ------------------------------------------------------------------------ Contact: SyQuest Technology John Chun, 510/226-4957 ------------------------------------------------------------------------ More Quotes and News: •Iomega Corp (NYSE:IOM - news)•SyQuest Technology Inc (Nasdaq:SYQT - news) Related News Categories: computer hardware, computers

To: Dale Stempson who wrote (5783)	1/14/1999 5:03:00 AM
From: Reseller	Read Replies (2) \| Respond to of 10072

Dale,, I couldn't agree more. It's too bad the news came out on a day like today I view the press as an offensive weapon, to be strategically placed to enhance the position of the company. In particular with a smaller company like IOM it is most important to properly engage this resource. Certainly IOM has known for some time of it's acquisition of SyQuest's assets and I think very correctly used it against yesterday's onslaught. Your comment of wanting to see what would have happen if it had been a normal trading day would have been indeed interesting and I also would have reveled in the event. It looked like we were about to get plummeted and I for one was relieved to see yesterday's salvo come into play. Jodie's decision to release this information saved the day. What A Deal !! Thanks for the discussion today it's been most thought provoking. Best Regards Reseller