Microsemi Reaches Deal To Buy Zarlink For $525M

Law360, New York (September 22, 2011, 5:41 PM EDT) -- California chip-maker Microsemi Corp. announced Thursday that it will acquire Ottawa-based Zarlink Semiconductor Inc. in a $525 million deal, ending a rocky eight-month takeover that included three rejected buyout offers, public jousting and a hostile bid launched this summer.

Microsemi, which had been wooing the Canadian company since January, raised its previous offer of $3.25 per share to $3.86 per share, winning over a reluctant Zarlink board that spurned what it called highly opportunistic offers in May and June.

“After careful consideration of strategic alternatives, protracted...
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