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Applied Magnetics Corp

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BUSINESS
January 8, 2000
Applied Magnetics Corp. said it has filed for Chapter 11 bankruptcy protection and has discontinued operations at its facility in Goleta, Calif., where the company is based.
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BUSINESS
January 8, 2000
Applied Magnetics Corp. said it has filed for Chapter 11 bankruptcy protection and has discontinued operations at its facility in Goleta, Calif., where the company is based.
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BUSINESS
March 8, 1997 | From Bloomberg News
Applied Magnetics Corp. said Friday that it won't raise its $1.23-billion hostile offer for larger rival Read-Rite Corp. That could kill the transaction, because many Read-Rite shareholders are likely to reject the current terms of the stock-swap offer as too low, analysts said. "It probably means there's no deal," said analyst Barry Bosak of Smith Barney. Applied Magnetics, based in Goleta, Calif., is hoping that its stock price will increase, boosting the value of the deal.
BUSINESS
November 26, 1998 | Bloomberg News
Applied Magnetics Corp., a maker of computer disk-drive parts, agreed to buy closely held DAS Devices Inc. to gain its semiconductor technology. Applied Magnetics said it will pay 13 million of its common shares for Milpitas-based DAS Devices, valuing the transaction at $90.2 million, based on the closing price of Applied Magnetics shares Tuesday of $6.94. Goleta-based Applied Magnetics makes heads that read computer disk drives. Applied Magnetics shares rose 69 cents to close at $7.
BUSINESS
March 8, 1987
Goleta-based Applied Magnetics Corp. gave CEO Ben J. Newitt the additional title of vice chairman. Succeeding him as president is William R. Anderson, whose previous post was executive vice president and chief operating officer. Harold R. Frank continues as chairman. O. M. Fundingsland was promoted to executive vice president-sales and marketing of Applied Magnetics, which manufactures magnetic recording heads for the computer industry.
BUSINESS
January 28, 1993
NPC Holding, a subsidiary of Japan's Nakamichi Corp., said Wednesday that it has agreed to acquire a producer of optical disk-drive components in Monument, Colo., for an undisclosed price. NPC, which owns optical disk-drive maker Most Inc. in Cypress, said it plans to acquire the Optical Products Division of Applied Magnetics Corp., which has about 50 employees in Colorado. Most Inc. employs about 500 people in Cypress, said Kim Frank, general counsel for NPC.
BUSINESS
April 26, 1994
Companies ranked by loss from continuing operations. Rank. Company: '93 Income ($ Millions) 1. Amdahl Corp.: -589 2. Tandem Computers Inc.: -510 3. Conner Peripherals: -445 4. Maxtor Corp.: -273 5. California Federal Bank: -146 6. H.F. Ahmanson & Co.: -138 7. Glendale Federal Bank: -112 8. Carter Hawley Hale: -96 9. Hexcel Corp.: -86 10. Gensia Pharmaceuticals: -63 11. REXON Inc.: -53 12. Applied Magnetics Corp.: -52 13. Presley Co.: -51 14. AST Research Inc.: -50 15. Atari Corp.: -49 16.
BUSINESS
November 26, 1998 | Bloomberg News
Applied Magnetics Corp., a maker of computer disk-drive parts, agreed to buy closely held DAS Devices Inc. to gain its semiconductor technology. Applied Magnetics said it will pay 13 million of its common shares for Milpitas-based DAS Devices, valuing the transaction at $90.2 million, based on the closing price of Applied Magnetics shares Tuesday of $6.94. Goleta-based Applied Magnetics makes heads that read computer disk drives. Applied Magnetics shares rose 69 cents to close at $7.
BUSINESS
March 12, 1997 | Times Staff and Wire Reports
Applied Magnetics Corp. sent an open letter to its shareholders to explain its $1.31-billion hostile takeover offer for larger rival Read-Rite Corp. In the letter, Chief Executive Craig Crisman said the Goleta company became convinced a merger would benefit both companies and that Applied made its bid only after Milpitas-based Read-Rite declined other transactions. Read-Rite's board has rejected the proposal and adopted a "poison pill" plan to thwart it and any other hostile bids.
BUSINESS
February 28, 1997 | Times Staff and Wire Reports
Applied Magnetics Corp.'s stock fell 16%, further cutting the value of its offer for rival Read-Rite Corp. and placing the bid in jeopardy, analysts said. Applied Magnetics shares fell $7.25 to close at $38 on the New York Stock Exchange. Based on Thursday's share price, its offer for Read-Rite is worth $1.22 billion, $580 million less than when the offer was made Monday. Analysts questioned whether Goleta-based Applied Magnetics will go through with the bid, now worth $25.80 a share.
BUSINESS
March 12, 1997 | Times Staff and Wire Reports
Applied Magnetics Corp. sent an open letter to its shareholders to explain its $1.31-billion hostile takeover offer for larger rival Read-Rite Corp. In the letter, Chief Executive Craig Crisman said the Goleta company became convinced a merger would benefit both companies and that Applied made its bid only after Milpitas-based Read-Rite declined other transactions. Read-Rite's board has rejected the proposal and adopted a "poison pill" plan to thwart it and any other hostile bids.
BUSINESS
March 8, 1997 | From Bloomberg News
Applied Magnetics Corp. said Friday that it won't raise its $1.23-billion hostile offer for larger rival Read-Rite Corp. That could kill the transaction, because many Read-Rite shareholders are likely to reject the current terms of the stock-swap offer as too low, analysts said. "It probably means there's no deal," said analyst Barry Bosak of Smith Barney. Applied Magnetics, based in Goleta, Calif., is hoping that its stock price will increase, boosting the value of the deal.
BUSINESS
March 4, 1997 | From Times Staff and Wire Reports
Read-Rite Corp. said Monday it rejected an unsolicited takeover bid from Applied Magnetics Corp., a rival maker of computer disk drive parts, after the stock offer's value plunged from $1.76 billion to $1.22 billion. The companies both make computer disk drive heads, which read and write information on computer storage devices. The combined companies would have $1.8 billion in annual sales and equity worth $3.4 billion.
BUSINESS
February 28, 1997 | Times Staff and Wire Reports
Applied Magnetics Corp.'s stock fell 16%, further cutting the value of its offer for rival Read-Rite Corp. and placing the bid in jeopardy, analysts said. Applied Magnetics shares fell $7.25 to close at $38 on the New York Stock Exchange. Based on Thursday's share price, its offer for Read-Rite is worth $1.22 billion, $580 million less than when the offer was made Monday. Analysts questioned whether Goleta-based Applied Magnetics will go through with the bid, now worth $25.80 a share.
BUSINESS
February 26, 1997 | From Times Wire Services
Read-Rite Corp. said its board of directors met Tuesday and that the company was still considering an unsolicited $1.5-billion takeover bid from Applied Magnetics Corp., a rival manufacturer of computer disk drive parts. "The board is pursuing their fiduciary responsibilities and reviewing the proposal with the best interests of Read-Rite shareholders in mind," said Steve Polcyn, spokesman for Read-Rite.
BUSINESS
February 25, 1997 | From Times Staff and Wire Reports
Applied Magnetics Corp. made an unsolicited $1.76-billion stock bid for rival Read-Rite Corp. in a deal that would create one of the world's largest makers of heads for computer disk drives. Applied Magnetics, with about 900 employees, is far smaller than Read-Rite, which has about 20,000 workers. But Read-Rite has struggled in recent quarters and recorded a loss of $43 million for 1996.
BUSINESS
February 26, 1997 | From Times Wire Services
Read-Rite Corp. said its board of directors met Tuesday and that the company was still considering an unsolicited $1.5-billion takeover bid from Applied Magnetics Corp., a rival manufacturer of computer disk drive parts. "The board is pursuing their fiduciary responsibilities and reviewing the proposal with the best interests of Read-Rite shareholders in mind," said Steve Polcyn, spokesman for Read-Rite.
BUSINESS
April 19, 1989 | JOHN CHARLES TIGHE, Times Staff Writer
Suffering from a slump in the computer circuit board industry, Diceon Electronics Inc. had a loss of $1.3 million in its second quarter ended April 1. The loss--the first ever reported by the Irvine firm--contrasts with net income of $3 million for the year-earlier period. Revenue for the quarter was down 18% to $29.5 million, compared to $36.2 million. "Circuit board sales have been slowing for a year. But we're now losing money because prices are deteriorating," Diceon Executive Vice President Peter Jonas said Tuesday.
BUSINESS
April 26, 1994
Companies ranked by loss from continuing operations. Rank. Company: '93 Income ($ Millions) 1. Amdahl Corp.: -589 2. Tandem Computers Inc.: -510 3. Conner Peripherals: -445 4. Maxtor Corp.: -273 5. California Federal Bank: -146 6. H.F. Ahmanson & Co.: -138 7. Glendale Federal Bank: -112 8. Carter Hawley Hale: -96 9. Hexcel Corp.: -86 10. Gensia Pharmaceuticals: -63 11. REXON Inc.: -53 12. Applied Magnetics Corp.: -52 13. Presley Co.: -51 14. AST Research Inc.: -50 15. Atari Corp.: -49 16.
BUSINESS
April 27, 1993
Companies ranked by total employees worldwide in 1992. Total Calif. % Rank Company Emplys Emplys Calif 1 Hewlett-Packard Co. 92,600 25,000 27 2 BankAmerica Corp. 83,200 NA NA 3 Safeway Inc. 78,538 14,000 18 4 Rockwell International 77,000 22,000 29 5 Lockheed Corp. 71,000 NA NA 6 Walt Disney Co. 70,000 17,500 25 7 Hilton Hotels Corp. 70,000 6,930 10 8 Pacific Telesis Corp. 61,346 54,288 88 9 Chevron Corp. 55,123 18,000 33 10 Dole Food Co. Inc.
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