AATI Didn't Need Other Bids In $259M Skyworks Sale: Judge

Law360, San Francisco (February 15, 2013, 7:04 PM EST) -- Advanced Analogic Technologies Inc. wasn't required to court other offers before sealing its $259 million merger with Skyworks Solutions Inc., a California judge ruled Friday, despite arguments from a class of shareholders that the lack of competition led AATI to be undervalued.

Both companies argued that AATI had no duty to hold an auction before selling the entirety of its shares to Skyworks in November 2011. They also argued that plaintiffs Stephen Bushansky and Chad Venette, representing the shareholders, failed to show that AATI's top brass...
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