MoFo Leads Tsinghua's $1.7B Deal For Chipmaker

Law360, New York (July 12, 2013, 12:37 PM EDT) -- Chinese chipmaker Spreadtrum Communications Inc. on Friday accepted a sweetened buyout bid from a subsidiary of state-controlled Tsinghua Holdings Co. Ltd. that values the company at $1.7 billion, striking a deal that gives Tsinghua a new foothold in the smartphone market.

Tsinghua Unigroup Ltd., which raised its original $1.4 billion bid from last month, will put up $31 for each of Spreadtrum's American Depositary Shares and $10.33 for each ordinary share under a definitive merger agreement, according to a statement. The merger is pending shareholder and...
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