Microsemi To Acquire Actel For $430M

Law360, New York (October 4, 2010, 2:47 PM EDT) -- Semiconductor manufacturer Microsemi Corp. has said it will acquire circuit maker Actel Corp. for $430 million in a deal that lets Microsemi expand its aerospace and defense business.

Under terms of the offer, announced Monday, Microsemi would buy Actel’s outstanding common stock for $20.88 per share. The transaction has been unanimously approved by the boards of both companies, and no approval is required from Microsemi shareholders, the companies said.

The transaction is expected to close in Microsemi’s first fiscal quarter, which ends Jan. 2.

“We believe...
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