Microchip To Pay $394M For Rival Chip Maker Supertex

Law360, New York (February 10, 2014, 1:38 PM EST) -- Microchip Technology Inc. will buy mixed-signal semiconductor chip maker Supertex Inc. for about $394 million, the companies said Monday, in a deal designed to boost Microchip's medical, lighting and industrial chip making capabilities.

The deal, which has already been unanimously approved by both sides' boards of directors and is awaiting Supertex stockholder approval, is expected to close in the second quarter. The $394 million purchase price is equivalent to $33 per share, which represents a 35 percent premium to Supertex's closing price on Friday.

Steve Sanghi,...
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