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Technology Stocks : VLSI Technology - Waiting for good news from NASDAQ !!! -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (5361)	3/1/1999 7:18:00 PM
From: Maui Jim	Read Replies (2) \| Respond to of 6565

San Jose, California, March 1 (Bloomberg) -- VLSI Technology Inc. board members are taking seriously a $777 million offer for the semiconductor maker from Royal Philips Electronics NV and will meet Wednesday to consider it, director Paul Low said. Philips was on a list of companies that VLSI considered ''useful to partner with'' even before the Dutch company made its bid Friday, Low said. He declined to say what other companies are on the list of desired partners. Philips, the No. 1 chipmaker in Europe, is offering $17 a share in cash for VLSI, 58 percent more than the Thursday close. Philips wants VLSI's digital-signal processors to jump-start its cell-phone business and other high-performance chips for portable computers and digital electronic products. ''This offer is going to be very, very seriously considered,'' said Low, a VLSI director for the past three years and the former head of microelectronics at International Business Machines Corp. '' There are good arguments for pursuing this kind of transaction.'' The meeting, which will include lawyers and investment bankers, will start at 9 a.m. California time at VLSI headquarters in San Jose. Low expects it to run about five or six hours. Low said the Philips offer is less than one made by rival LSI Logic Corp. during preliminary acquisition talks last year. VLSI shares rose 5/8 to 16 1/8. Philips U.S.-listed shares fell 3/4 to 68 7/8. 17:22:48 03/01/1999