Atmel - the trend is about to change Message Board

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Technology Stocks : Atmel - the trend is about to change

ATML 8.140

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Apr 12 4:00 PM EDT

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From: sixty2nds	8/7/2006 2:37:43 PM
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11:23 ATML Atmel: New managers could accelerate restructuring actions - Wedbush Morgan (4.80 +0.13) -Update- Wedbush Morgan notes that ATML announced that it has terminated Chairman and CEO George Perlagos, Exec VP Gust Perlagos, VP and General Counsel, and the VP of Planning and IT for misuse of corporate travel funds. Firm says today's announcement increases the likelihood that ATML shareholders and co mgmt would be more open to a takeover offer, which could be meaningfully higher than the current stock price. Also, firm says a more objective and independent CEO could accelerate the firm's restructuring activities, potentially exiting unprofitable businesses or closing inefficient factories sooner than the previous mgmt team. On the other hand the firm says that the Perlago's alleged misuse of corporate travel funds, along with the firm's investigation into options backdating, could be representative of a larger systemic problem with general corporate governance issues at ATML

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