-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, E3qk9RorVS6bEvIb8ZLnXa1+02MN+vJ5bMVIo1Ge2livLswkArqnExm1BYh3AVn/ srxHpZSzDLj2unM9/3e5FQ== 0000703360-94-000022.txt : 19941207 0000703360-94-000022.hdr.sgml : 19941207 ACCESSION NUMBER: 0000703360-94-000022 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19941130 ITEM INFORMATION: Other events FILED AS OF DATE: 19941201 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: LSI LOGIC CORP CENTRAL INDEX KEY: 0000703360 STANDARD INDUSTRIAL CLASSIFICATION: 3674 IRS NUMBER: 942712976 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10317 FILM NUMBER: 94562794 BUSINESS ADDRESS: STREET 1: 1551 MCCARTHY BLVD STREET 2: MS D-106 CITY: MILPITAS STATE: CA ZIP: 95035 BUSINESS PHONE: 408-433-8000 MAIL ADDRESS: STREET 1: 1551 MCCARTHY BLVD STREET 2: MS D-106 CITY: MILPITAS STATE: CA ZIP: 95035 8-K 1 CANADA SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report(Date of earliest event reported): November 30,1994 LSI LOGIC CORPORATION (Exact name of registrant as specified in its charter) Delaware 0-11674 94-2712976 (State or other (Commission (IRS Employee jurisdiction of File Number) Identification No.) incorporation) 1551 McCarthy Blvd., Milpitas, California 95035 (Address of principal executive offices) Registrant's telephone number, including area code (408) 433-8000 Not Applicable (Former name or former address, if changed since last report) Item 5. Other Events On November 29, 1994, LSI Logic Corporation (the "Registrant") gave public notice of its intention to acquire for cash the approximately 11,000,000 shares of LSI Logic Corporation of Canada, Inc. which it does not already own. Attached as Exhibit 99.3 to this Current Report on Form 8-K is the text of the notice given by the Registrant on November 29, 1994. Item 7. Financial Statements and Exhibits (c) Exhibits 99.3 Text of Press Release dated November 29, 1994 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: November 30, 1994 LSI LOGIC CORPORATION /s/ David E. Sanders David E. Sanders, Vice President, General Counsel & Secretary INDEX TO EXHIBITS Exhibit 99.3 Text of Press Release dated November 29, 1994. EX-99.3 2 99.3 PRESS RELEASE EXHIBIT 99.3 FOR IMMEDIATE RELEASE For More Information Contact: Bruce Entin 408-433-4067 CC94-55 LSI LOGIC CORPORATION ANNOUNCES INTENTION TO PRIVATIZE LSI CANADA MILPITAS, California, November 29, 1994 -- LSI Logic Corporation, which owns 55 percent or 14 million shares of its publicly traded subsidiary LSI Logic Corporation of Canada, Inc., today announced its intention to acquire for cash the approximately 11 million remaining shares it does not already own. Shares of LSI Canada (LSC) are traded on the Toronto, Montreal and Alberta exchanges. LSI Logic Corporation said it expects to acquire the Canadian shares for (U.S.) $2.30 a share ($3.30 Canada). The corporation anticipates the buyout will cost approximately $30 million, which would be drawn from its roughly $400 million cash position on the balance sheet at the end of the third quarter of 1994. Investment banker Nesbitt Burns, with headquarters in Toronto, has been retained by the corporation to complete the transaction. In evaluating the future direction of LSI Canada, LSI Logic Corporation believes that the Calgary-based company will best operate as a value-added geographic distributor of the corporation's products and technology lines rather than as an independent company. As a result, LSI Logic Corporation decided to pursue the privatization of LSI Canada. The privatization plan is part of an ongoing effort to provide global customers cost effective and seamless access to LSI Logic Corporation's portfolio of design tools, process technology and industry standard cores used to create a system on a chip. To lead LSI Canada on its distributor mandate, LSI Canada today announced the appointment of Pierre Nadeau as President and Chief Executive Officer of LSI Canada. Mr. Nadeau, an electronics industry veteran with 15 years of experience in the telecommunications industry, most recently was vice president and managing director AT&T Network Systems Canada. Previously, Mr. Nadeau held a series of executive positions with Northern Telecom Canada Ltd. and Bell Northern Research. "The corporation's planned buyout of the minority shareholders reflects our desire to provide shareholders with an opportunity to realize a reasonable premium over the current value of their LSI Canada shares," said Wilfred J. Corrigan, chairman and chief executive of LSI Logic Corporation. "This intended privatization of LSI Canada is in the best interests of shareholders of both the parent corporation and the subdiary. "LSI Logic Corporation is determined to stay focused on generating improved financial results to shareholders and leveraging its technological capabilities to a worldwide customer base. Both these objectives will be met more effectively with LSI Canada serving as a regional distributor and a wholly owned subsidiary." LSI Logic Corporation (NYSE:LSI) is a Fortune 500 supplier of high-performance semiconductors, with operations worldwide. The company enables customers to build complete systems on a single chip with its CoreWare methodology, thereby increasing performance, lowering system costs and accelerating time to market. LSI Logic develops customized products in partnership with leading customers, and operates leading-edge, high-volume manufacturing facilities to produce sub-micron chips. LSI Logic is headquartered at 1551 McCarthy Blvd., Milpitas, California, 95035, 408-433-8000. -----END PRIVACY-ENHANCED MESSAGE-----