US Clears TI's $6.5B National Semiconductor Buy

Law360, New York (May 23, 2011, 3:37 PM EDT) -- The U.S. Department of Justice and the Federal Trade Commission have cleared Dallas-based Texas Instruments Inc.'s proposed $6.5 billion acquisition of California-based National Semiconductor Corp., the companies announced Monday.

The agencies declined to request further details on the deal before the proscribed waiting period expired, according to the companies. The acquisition, however, still requires approval from seven non-U.S. jurisdictions.

Under the terms of the all-cash deal, unanimously approved by the boards of directors of both companies, National shareholders will get $25 per share.

"This acquisition is...
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