SMSC Stockholders Approve Merger with Microchip
HAUPPAUGE, N.Y.--Jul. 10, 2012-- SMSC (NASDAQ: SMSC), a leading semiconductor company enabling content rich connectivity systems, today announced that its stockholders have voted to approve the acquisition of SMSC by Microchip Technology Incorporated (NASDAQ: MCHP), a leading provider of microcontroller, analog and Flash-IP solutions.
According to the final tally of shares voted, 17,587,576 shares of SMSC common stock voted in favor of the adoption of the acquisition agreement, which represented approximately 99.5 percent of the shares voting at today’s special meeting and approximately 76.3 percent of the shares of SMSC common stock outstanding and eligible to vote as of the May 30, 2012 record date for the special meeting.
Under terms of the acquisition agreement, dated May 1, 2012, Microchip will acquire SMSC in an all-cash transaction and SMSC stockholders will receive $37.00 per share in cash for each share of common stock they hold. As a result of the acquisition, SMSC will become a wholly owned subsidiary of Microchip and SMSC common stock will cease to be listed on the NASDAQ Global Select Market. The acquisition is expected to be completed in the third quarter of calendar 2012, subject to antitrust clearance in China and other customary closing conditions.
About SMSC
SMSC (NASDAQ: SMSC) is a leading developer of Smart Mixed-Signal Connectivity™ solutions. SMSC employs a unique systems level approach that incorporates a broad set of technologies and intellectual property to deliver differentiating products to its customers. SMSC is focused on delivering connectivity solutions that enable the proliferation of data in automobiles, consumer devices, PCs and other applications. SMSC’s feature-rich products drive a number of industry standards and include USB, MOST® automotive networking, Kleer® and JukeBlox® wireless audio, embedded system control and analog solutions, including thermal management and RightTouch® capacitive sensing. SMSC is headquartered in New York and has offices and research facilities in North America, Asia, Europe and India. Additional information is available at www.smsc.com.
|
Related News
- Altera Stockholders Approve Merger with Intel
- NetLogic Microsystems' Stockholders Approve Merger Agreement with Broadcom Corporation
- Zoran Stockholders Approve CSR Merger
- Tower Semiconductor Announces that Jazz Technologies Set August 8, 2008 as the Record Date for a Special Meeting of Stockholders to Vote On and Approve the Merger with Tower
- AMD and Xilinx Stockholders Overwhelmingly Approve AMD's Acquisition of Xilinx
Breaking News
- Frontgrade Gaisler Unveils GR716B, a New Standard in Space-Grade Microcontrollers
- Blueshift Memory launches BlueFive processor, accelerating computation by up to 50 times and saving up to 65% energy
- Eliyan Ports Industry's Highest Performing PHY to Samsung Foundry SF4X Process Node, Achieving up to 40 Gbps Bandwidth at Unprecedented Power Levels with UCIe-Compliant Chiplet Interconnect Technology
- CXL Fabless Startup Panmnesia Secures Over $60M in Series A Funding, Aiming to Lead the CXL Switch Silicon Chip and CXL IP
- Cadence Unveils Arm-Based System Chiplet
Most Popular
- Cadence Unveils Arm-Based System Chiplet
- CXL Fabless Startup Panmnesia Secures Over $60M in Series A Funding, Aiming to Lead the CXL Switch Silicon Chip and CXL IP
- Esperanto Technologies and NEC Cooperate on Initiative to Advance Next Generation RISC-V Chips and Software Solutions for HPC
- Eliyan Ports Industry's Highest Performing PHY to Samsung Foundry SF4X Process Node, Achieving up to 40 Gbps Bandwidth at Unprecedented Power Levels with UCIe-Compliant Chiplet Interconnect Technology
- Arteris Selected by GigaDevice for Development in Next-Generation Automotive SoC With Enhanced FuSa Standards
E-mail This Article | Printer-Friendly Page |