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March 17, 1997updated 05 Sep 2016 1:01pm

APPLIED MAGNETICS RETIRES INJURED FROM THE READ-RITE FRAY

By CBR Staff Writer

Applied Magnetics Corp has received so much flak, badmouthing and general bad publicity – not to mention a ravaging of its share price – since it launched its hostile bid for Read-Rite Corp that it is retiring hurt from the fray. It says the sharp decline in the company’s share price has made not feasible its share exchange for Read-Rite.

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