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

To: Linda Pearson who wrote (5885)	1/14/1999 5:35:00 PM
From: Kevin	Read Replies (1) \| Respond to of 10072

Looks like a 16,000+ trade hit the tape just after the close. Appears to be a buy. Can anyone confirm?

To: Linda Pearson who wrote (5885)	1/14/1999 6:34:00 PM
From: David S.	Read Replies (1) \| Respond to of 10072

Linda, You are always a little puncky, (spelling intentional), just trying to disarm us with your wily ways. But truly, Maria ain't that hot, and she sure doesn't encourage spanking. What is amazing to me is how IOM is holding onto 9 like it was impervious to the market. Someone knows something. Sandy may be on track. Regards, David S. INTC DELL HD KO WCOM LU IOM AWEB (CATCH THE AWEB BEFORE IT RUNS IN MARCH)

To: Linda Pearson who wrote (5885)	1/14/1999 10:29:00 PM
From: Dale Stempson	Read Replies (1) \| Respond to of 10072

More news: "SyQuest selling assets to Iomega" Thursday, January 14, 1999 By Bryce G. Hoffman Business Writer FREMONT -- SyQuest Technology Inc. has reached an agreement to sell the bulk of its assets to arch-rival Iomega Corp. for $9.5 million, a deal that will not benefit stockholders. "We want to make sure people are clear it's not an outright purchase," said John Chen, a spokesman for the failed computer peripheral manufacturer. "Iomega did not buy the company." Fremont-based SyQuest asked the Nasdaq exchange to suspend trading of its securities in November. While some hoped the company's shares would resume trading, Chen said SyQuest has formally requested that Nasdaq permanently de-list its stock. That leaves shareholders with nothing but their paper certificates. What Utah-based Iomega is buying, pending approval by the bankruptcy court in Oakland, is all of SyQuest's intellectual property, its domestic inventory and its fixed assets in this country. It is a cash deal, and one which is contingent on securing a similar deal for SyQuest's Malaysian manufacturing plant and associated assets there. That deal is still awaiting approval by bankruptcy officials in that country. Under the terms of the deal, SyQuest will be allowed to keep its inventory of refurbished components to service existing customers. Through a temporary agreement with the bankruptcy court in Oakland, SyQuest has commenced limited sales and support operations for its customers. However, it's not clear how long it will continue to do so, and Chen said Iomega has no plans to help SyQuest customers in the future. "Iomega has made it painfully clear they don't want to have anything to do with service support," he explained. But Chen said SyQuest still hopes to find alternative arrangements for its customers. "It's not over yet," Chen said. "This is the next step. We'll see where it takes us." SyQuest reported losses of more than $200 million since 1995. In August, following a disappointing third quarter, SyQuest fired 950 employees -- half its worldwide work force -- and shut down manufacturing operations in Fremont. The company laid off most of its remaining staff and filed for Chapter 11 bankruptcy protection in November. Founded in 1982, SyQuest was a pioneer in the field of removable computer storage devices. With products like the SparQ line of removable hard disk drives, SyQuest battled arch-rival Iomega Corp. for dominance in a marketplace characterized by low margins and technical difficulties. newschoice.com Regards - Dale