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Technology Stocks : Silicon Valley Group -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (2008)	3/4/1999 9:08:00 AM
From: Ian@SI	Read Replies (1) \| Respond to of 2946

Say hello to WJ's former equipment business... March 4, 1999 Watkins-Johnson To Sell Bulk Of Chip Equip Ops Dow Jones Newswires PALO ALTO, Calif. -- Watkins-Johnson Co. (WJ) signed a letter of intent to sell most of its Semiconductor Equipment Group to Silicon Valley Group Inc. (SVGI). In a press release Thursday, Watkins-Johnson said the purchase price will be based on the net value of the purchased assets and liabilities at closing. The sale includes business associated with the atmospheric pressure chemical vapor deposition products and real estate in Scotts Valley, Calif., and Kawasaki, Japan. The sale doesn't include the equipment group's high-density plasma chemical-vapor-depostition equipment and its associated intellectual property assets, which Watkins-Johnson said it plans to sell separately. Watkins-Johnson said it agreed not to negotiate with third parties pending due-diligence period. The deal is subject to due diligence, regulatory approval and approval by the boards of both companies. Silicon Valley Group, San Jose, Calif., makes automated wafer processing equipment for the semiconductor industry. Watkins-Johnson makes semiconductor manufacturing equipment and radio frequency products.