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

To: Mel Boreham who wrote (9369)	4/23/1999 12:54:00 PM
From: David Colvin	Read Replies (2) \| Respond to of 10072

Mel, David and Michael, you may have already seen this, but I haven't seen any mention about yesterday's announcement that the Syquest deal had been completed. From the very top of the news release: FREMONT, Calif.--(BUSINESS WIRE)--April 22, 1999--SyQuest Technology Inc. announced that the sale of substantially all its U.S. assets to Iomega Corporation for approximately $9.1 million has been completed. As I recall, the sale of U.S. assets was contingent upon separate negotiations and the sale of Syquest's assets in Malaysia to Iomega (one wouldn't go through without the other). So, it seems to me that the entire deal for Syquest's U.S. assets only has now been consummated for $9.1 million rather than $9.5 million as originally announced. Furthermore, the separate sale of the Malaysian assets must have been completed. The catch here is Iomega has not disclosed here or ever how much they additionally paid for the assets in Malaysia. What do you think? Dave

To: Mel Boreham who wrote (9369)	4/24/1999 9:15:00 AM
From: Michael Coley	Read Replies (2) \| Respond to of 10072

RE: Timing of the SyQuest Deal? >> Interesting that they waited until after the 1st Qtr. numbers were announced to complete the deal. << Take a look at the following section of SYQT's 8-K: Registrant entered into an agreement with Iomega Corporation for the sale of substantially all of Registrant's assets to Iomega. On April 6, 1999, the sale of those assets closed, and on April 22, 1999, Registrant issued a press release announcing the closing of the sale. I find it interesting that the sale actually closed on April 6, but Iomega didn't mention it in their conference call. - Michael Coley - bible-reading.com