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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 (5606)	3/9/1999 11:06:00 AM
From: Ram Seetharaman	Respond to of 6565

New News on VLSI. Saw Bob Pisani on CNBC 10 minutes ago stating that Philips has discovered that there are more than 46 million+ shares of VLSI on their $ 777 million buyout. There seems to me more like 53+ million out there including options etc.. So the buyout will be around $ 1 billion+.

To: Linda Kaplan who wrote (5606)	3/9/1999 11:06:00 AM
From: TScott	Read Replies (2) \| Respond to of 6565

We've been diluted! According to CNBC, Philips just announced that the deal will cost them ~1 billion $ due to stock options that they were unaware of. That's about $4 a share folks... I think we have been screwed and any "white nights" out there are going to ride into the sunset.

To: Linda Kaplan who wrote (5606)	3/9/1999 11:14:00 AM
From: otter	Read Replies (1) \| Respond to of 6565

"Couldn't the buyer through LEHM also be a trader, buying for the same reason we are holding: betting that the buyout will end up at 25 or at least 20 minimum?" Of course. Given that I'm concerned only with the resulting value of the shares I own or control, with the SINGLE exception of my comments below, I don't care what the motive is except that if a second suitor exists, it pretty much guarantees that the company will be sold at a price (in this case) greater than 18 and small change. "Does it have to be another suitor?" Nope. As you pointed out, Lehman might be buying as a speculation whose shares might be delivered as a block to anybody - including Philips - at a negotiated price. This might be important to Philips if they needed that block in order to establish voting control - or VLSI if they needed the stock to DENY control to Philips. Not a very pleasant thought as it could be a private transaction not reflected in the market price of the stock. (If VLSI were to be the buyer, there goes VLSI's cash..... btw...eliminating cash in a company's treasury IS a valid defensive tactic...) "We know there are other interested suitors..." Do we? We think it, for sure, but do we really know?? Who has said that for sure there are? (not an attack. I'm asking (hoping it is true) "but do they have to hold a large stock position in order to make their bids?" Nope, but if it were my intent to buy VLSI at, oh $25 per share, it would be foolish to hold off buying VLSI stock at anything less than $25 until my intentions became public- and I don't need to do that until my position reaches 5%.