BUSINESS NOTES MINIMED MERGES WITH MEDTRONIC.Byline: - From Staff and Wire Reports NORTHRIDGE - MiniMed Inc. stockholders have approved the proposed merger with Minnesota-based Medtronic Inc. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. preliminary results of Wednesday's special stockholders meeting, 49.3 million shares of MiniMed common stock were voted in favor of the merger agreement. The affirmative vote represents 76 percent of the number of shares outstanding, and 98 percent of the shares that were voted, company officials said. MiniMed will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Medtronic, a medical technology company. Under terms of the agreement, each share of MiniMed common stock outstanding at the effective time of the merger will be converted into the right to receive $48 per share in cash. Pollution-study firm sells shares GLENDALE - Pollution Research and Control Corp. approved a letter of intent for an undisclosed company to purchase 500,000 common shares of its stock for a $1 per share. The company said the purchase will occur before Aug. 30, 2001. The general terms of the agreement include an equity swap Equity swap A swap in which the cash flows exchanged are based on the total return on some stock market index and an interest rate (either a fixed rate or floating rate). Related: Interest rate swap. of land in exchange for nonconvertible, voting preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. on the basis of a valuation of $1.28 per share, subject to shareholder approval. At Thursday's close, the company declined 8 cents, or 18.6 percent, to 35 cents. Disney Internet signs Taiwan deal NORTH HOLLYWOOD - Walt Disney Internet Group The Walt Disney Internet Group (WDIG) oversees several websites owned by The Walt Disney Company and its subsidiaries. [1] The division's Disney Online unit operates disney. and Taiwan Cellular Corp. entered into a cooperative pact Thursday to distribute Disney wireless content under the Disney Mobile Disney Mobile is a Mobile Virtual Network Operator in the United States which launched in June of 2006, and will cease operating on December 31, 2007. It operates on Sprint's CDMA network. Disney Mobile is owned by The Walt Disney Company, which had marketed to family subscribers. brand over TCC's wireless network in Taiwan. ``Taiwan has the world's highest mobile phone penetration, which makes it an important milestone in our regional strategy to launch the Disney Mobile service in major Asian markets,'' said Attila Gazdag, WDIG's vice president of business development. Beginning in October, the Disney Mobile service on TCC TCC The Car Connection (web site) TCC Tidewater Community College TCC Tallahassee Community College TCC Temporary Continuation of Coverage TCC Tucson Convention Center (Tucson, AZ, USA) will include downloadable content such as logos, screensavers and ring tones, based on Disney's lineup of characters. The service will be expanded in the future to include games and other more advanced content as TCC further develops its networks and handset base. Subscribers will be able to access the content either via short messaging See SMS. service downloads or by subscribing to TCC's wireless access protocol service. Microsoft won't support plug-ins SEATTLE - Microsoft has quietly disclosed that the latest versions of its Internet Explorer Microsoft's Web browser, which comes with Windows starting with Windows 98. Commonly called "IE," versions for Mac and Unix are also available. Internet Explorer is the most widely used Web browser on the market. It has also been the browser engine in AOL's Internet access software. browser will not support Netscape-style plug-ins - the software bridges that extend the capabilities of a browser, letting a user play audio or video clips, for example. The move means many Web sites that use popular programs like Apple's QuickTime won't work right with Windows unless developers change the code to meet Microsoft's requirements. Microsoft said it made the decision a few weeks ago for ``security and technical reasons,'' but critics called it the latest example of the software giant promoting its own technology to the exclusion of others. The main program to be affected is Apple's QuickTime. Nintendo delays GameCube debut TOKYO - Nintendo Co. is determined to one-up rivals Microsoft Corp. and Sony Corp. with its latest video-game machine, GameCube. in three big ways - competitive pricing, the Game Boy portable and a lineup of stars from Mario to Pikachu. How that message plays out in the weeks before Christmas will be key in determining the victor in an intensifying three-way game war. Already, competitive factors have compelled Nintendo to delay selling its GameCube console in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. by two weeks, to Nov. 18, thus giving Microsoft an unimpeded unimpeded Adjective not stopped or disrupted by anything Adj. 1. unimpeded - not slowed or prevented; "a time of unimpeded growth"; "an unimpeded sweep of meadows and hills afforded a peaceful setting" launch of its new Xbox machine. The GameCube console, which is also competing against Sony's PlayStation 2, was supposed to be unveiled on Nov. 8, three days after the planned launch of Xbox, but Nintendo said it decided to postpone the launch to ensure plentiful initial shipments. |
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