FTC Clears SMSC's $248M Bid For Conexant

Law360, New York (February 14, 2011, 5:12 PM EST) -- The Federal Trade Commission has granted an early termination of its antitrust review of Standard Microsystems Corp.'s proposed $284 million acquisition of fellow semiconductor maker Conexant Systems Inc., but Conexant is still considering another suitor's bid.

The FTC said on Friday that it had accepted the companies' request for an early termination, meaning the agency has completed its antitrust review of the deal and decided not to take any enforcement action during the deal's statutory waiting period.

New York-based SMSC and California-based Conexant announced on Jan....
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