OTHER NEWS - Oct. 18, 1994
From Times Staff and Wire Reports
Micron Technology to Buy Stake in Zeos: Micron Technology Inc. said it signed a letter of intent to buy 89% of struggling personal computer maker Zeos International Ltd. for an undisclosed sum. Under terms of the agreement, two units of Micron would trade their shares for 89% of the shares of Minneapolis-based Zeos. The remaining 11% would be held by existing shareholders, the companies said. Other terms of the transaction were not disclosed and company officials would not comment further. Based on Zeos’ closing stock price Friday, the stake is worth about $44.5 million. Zeos shares closed unchanged Monday at $5 on Nasdaq market.
