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BULLETIN: STMicroelectronics N.V. to Acquire Alcatel's Semiconductor Division Apr 02
Standard & Poors, April 2002
Abstract
Standard & Poor's said today that STMicroelectronics N.V.'s plans to acquire Alcatel's semiconductor business for -390 million do not affect the ratings or outlook on STMicroelectronics (A-/Stable/A-2), Europe's largest semiconductor supplier. Although the acquisition will be paid for in cash, STMicroelectronics will continue to post a strong financial profile after the transaction. The group had a net cash position of $458 million at year-end 2001, and the simultaneous sale of some of Alcatel's semiconductor manufacturing capacity will mitigate the cash outflow for the acquisition. The acquisition will provide STMicroelectronics with key technology in certain wireless-chip applications and with a sustained revenue stream from Alcatel....
Companies mentioned in this report are: STMicroelectronics N.V.,Alcatel-Lucent
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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