When the Hauppauge, New York-based Standard Microsystems Corp succeeded in seeing off unwelcome stake-builder CB Equities Corp in February by paying its $1m expenses, it also agreed to find a congenial buyer for the 16.8% stake that CB had built up in Standard. The chosen buyer turns out to be Micron Technology Inc, Boise, Idaho, which paid $9.8m for shares amounting to 14.5% of Standard, the balance having been sold by CB in the market.
MICRON BUYS 14.5% OF STANDARD MICROSYSTEMS
