Eric Savitz (Barron's) submits: Cypress Semiconductor (CY) Thursday said that it plans to proceed with a proposed spinoff to holders of its stake in SunPower (SPWR). The company said in April that it had received an IRS ruling which clears the way for a tax-free spin-off. Cypress said that in connection with the proposal, it may tender for its 1% convertible notes due September 2009. It also said the company may sell a portion of its shares prior to completing the spin-off. Complete Story » ...
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Eric Savitz (Barron's) submits: Cypress Semiconductor (CY) Thursday said that it plans to proceed with a proposed spinoff to holders of its stake in SunPower (SPWR). The company said in April that it had received an IRS ruling which clears the way for a tax-free spin-off. Cypress said that in connection with the proposal, it may tender for its 1% convertible notes due September 2009. It also said the company may sell a portion of its shares prior to completing the spin-off. Complete Story » ...