ON Semiconductor Extends Tender Offer to Acquire Fairchild Semiconductor
PHOENIX, Ariz. – March 4, 2016, – ON Semiconductor Corporation (Nasdaq: ON) (“ON Semiconductor”) announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (Nasdaq: FCS) (“Fairchild”) for $20.00 per share in cash (the “Offer”) pending the satisfaction of the conditions to the Offer set forth in the merger agreement entered into on November 18, 2015 between ON Semiconductor and Fairchild. The Offer will now expire one minute following 11:59 p.m., New York City time, March 17, 2016, unless further extended as required or permitted by the merger agreement. All other terms and conditions of the Offer remain unchanged. Computershare Trust Company, N.A., the depositary for the Offer, has advised ON Semiconductor that as of the close of business, New York City time on March 3, 2016, approximately 11,006,013 shares of common stock of Fairchild (not including 6,000 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 9.7% of the outstanding shares of common stock of Fairchild.
Pending satisfaction of the conditions to the Offer, the merger agreement requires successive 10-business day extensions of the Offer, and ON Semiconductor currently intends to continue making such successive extensions, subject to the other terms and conditions of the merger agreement. This press release is being issued under applicable securities laws in order to notify Fairchild’s stockholders of the extension.
The completion of the Offer remains subject to certain customary terms and conditions set forth in the Offer to Purchase, dated December 4, 2015, as amended (the “Offer to Purchase”), and other related materials by which the Offer is being made.
About ON Semiconductor
ON Semiconductor (Nasdaq: ON) is driving energy efficient innovations, empowering customers to reduce global energy use. The company is a leading supplier of semiconductor-based solutions, offering a comprehensive portfolio of energy efficient power and signal management, logic, standard and custom devices. The company’s products help engineers solve their unique design challenges in automotive, communications, computing, consumer, industrial, medical and military/aerospace applications. ON Semiconductor operates a responsive, reliable, world-class supply chain and quality program, and a network of manufacturing facilities, sales offices and design centers in key markets throughout North America, Europe, and the Asia Pacific regions. For more information, visit http://www.onsemi.com.
|
Related News
- Renesas Extends Tender Offer for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer and Receives UK NSIA Clearance for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer for Proposed Acquisition of Sequans
- Renesas Extends Tender Offer and Receives CFIUS Clearance for Proposed Acquisition of Sequans
Breaking News
- Arteris Joins Intel Foundry Accelerator Ecosystem Alliance Program to Support Advanced Semiconductor Designs
- SkyeChip Joins Intel Foundry Accelerator IP Alliance
- Siemens and Intel Foundry advance their collaboration to enable cutting-edge integrated circuits and advanced packaging solutions for 2D and 3D IC
- Cadence Expands Design IP Portfolio Optimized for Intel 18A and Intel 18A-P Technologies, Advancing AI, HPC and Mobility Applications
- Synopsys and Intel Foundry Propel Angstrom-Scale Chip Designs on Intel 18A and Intel 18A-P Technologies
Most Popular
- QuickLogic Delivers eFPGA Hard IP for Intel 18A Based Test Chip
- Siemens collaborates with TSMC to drive further innovation in semiconductor design and integration
- Aion Silicon Joins Intel Foundry Accelerator Design Services Alliance to Deliver Next-Generation Custom SoCs at Scale
- TSMC Unveils Next-Generation A14 Process at North America Technology Symposium
- BOS Semiconductors to Partner with Intel to Accelerate Automotive AI Innovation
![]() |
E-mail This Article | ![]() |
![]() |
Printer-Friendly Page |