This excerpt taken from the PMCS 10-Q filed Nov 9, 2005.
NOTE 10. Subsequent Events
On October 26, 2005, the Company issued $225 million aggregate principal amount of 2.25% senior convertible notes due 2025. The Company granted the initial purchasers of the notes an overallotment option to purchase up to an additional $25 million aggregate principal amount of the notes, which has not been exercised.
On October 28, 2005, the Company entered into a Purchase and Sale Agreement with Avago Technologies Pte. Limited (formerly Argos Acquisition Pte. Ltd.) (Avago) to acquire the storage semiconductor business of Agilent Technologies, Inc. for approximately $425 million in cash. The storage semiconductor business is part of Agilents Semiconductor Products Group, which Avago is in the process of acquiring. The acquisition is expected to close in January of 2006.
- 14 -