Rambus (RMBS): research note this morning: 08:54 RMB...

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Friday, 09/08/2006 9:13:15 AM

Friday, September 08, 2006 9:13:15 AM

research note this morning:

08:54 RMBS Rambus: Possible acquisition of Mosaid's IP could be valuable to RMBS - Amtech (16.75 )

Amtech notes that on Tuesday memory IP-licensing co Mosaid hired Morgan Stanley and CIBC as Strategic Advisors, which they believe signals Mosaid is looking to divest parts or all of its business. Firm believes there could be some nexus between Mosaid and RMBS's IP, which may also lead to a stronger legal and negotiating position for RMBS with non-licensed memory makers. While firm is not aware of any current discussions between the two co's, their analysis suggests there could be $2 or more per share in incremental value creation for RMBS shareholders if a deal were consummated. Firm says any leverage the Mosaid portfolio gives RMBS in favorably closing its current legal cases would be incremental, making such a deal a slam-dunk. Reits Buy on RMBS.

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