A Double In Less Than Two Years

Article Excerpt

FREESCALE SEMICONDUCTOR INC. (New York symbols FSL $38 and FSL.B $38; Aggressive Growth Portfolio, Manufacturing & Industry sector; WSSF Rating: Extra risk) was formerly the chipmaking subsidiary of Motorola Inc. Motorola did a partial public offering of Freescale in 2004. In December of that year, Motorola handed out its remaining Freescale to its own investors as a special dividend or spinoff. The stock started out trading around $17 ($18 for the Class B multiple voting shares) at the time of the spin-off. Freescale has now accepted a $40-a-share all-cash takeover offer from a private investment group. The agreement lets Freescale entertain competing bids until November 4, 2006, but we don’t expect to see a higher bid. Investors should plan to tender to get the full value of the takeover. In the meantime, Freescale is a hold. hold…

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