J.R. Simplot Further Reduces Stake In Micron Technology
Seattle Times Business Staff: Seattle Times News Services
WASHINGTON - Billionaire J.R. Simplot continued to sell stock in Micron Technology Inc., cutting his stake in the semiconductor company to 6.2 percent from 6.6 percent of common shares outstanding.
A trust controlled by Simplot reported the sale of 800,000 common shares on July 17 at $18 to $20 each in documents filed today with the Securities and Exchange Commission. Simplot and his affiliates now own a total of about 13.06 million shares in the Boise-based company.
The July 17 stock sales follow an even larger sell-off of 4.2 million shares by the Simplot trust on July 11. In both instances, Simplot reported that the sales were made to reduce the trust's exposure under previously reported margin loans.
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