News Article
What now for RFMD and TriQuint merger?
The business combination is still subject to approval by both TriQuint's and RFMD's shareholders, other required regulatory approvals, and customary closing conditions
RF Micro Devices, Inc. and TriQuint Semiconductor, Inc. have announced that the applicable waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.
The amended HSR Act, in the business combination between RFMD and TriQuint, expired on 11:59 p.m. EDT on June 13th 2014, with no action by the Federal Trade Commission or the Department of Justice.
On February 24th 2014, RFMD and TriQuint announced that it had entered into a definitive merger agreement under which the companies will combine under a new holding company in an all-stock, merger-of-equals transaction.
Upon completion of the transaction, RFMD shareholders will receive 0.25 of a share of common stock of the new holding company for each share of RFMD common stock, and TriQuint shareholders will receive 0.4187 of a share of common stock of the new holding company for each share of TriQuint common stock.
The companies anticipate that RFMD shareholders, on the one hand, and TriQuint shareholders, on the other hand, will each hold approximately 50 percent of the shares of common stock of the new holding company issued and outstanding immediately after completion of the transaction.
Completion of the HSR Act waiting period should satisfiy one of the conditions required to finalise the transaction.
The amended HSR Act, in the business combination between RFMD and TriQuint, expired on 11:59 p.m. EDT on June 13th 2014, with no action by the Federal Trade Commission or the Department of Justice.
On February 24th 2014, RFMD and TriQuint announced that it had entered into a definitive merger agreement under which the companies will combine under a new holding company in an all-stock, merger-of-equals transaction.
Upon completion of the transaction, RFMD shareholders will receive 0.25 of a share of common stock of the new holding company for each share of RFMD common stock, and TriQuint shareholders will receive 0.4187 of a share of common stock of the new holding company for each share of TriQuint common stock.
The companies anticipate that RFMD shareholders, on the one hand, and TriQuint shareholders, on the other hand, will each hold approximately 50 percent of the shares of common stock of the new holding company issued and outstanding immediately after completion of the transaction.
Completion of the HSR Act waiting period should satisfiy one of the conditions required to finalise the transaction.
