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Bidding for Anadigics continues

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GaAs Labs matches $0.54 per share offer of competing bidder


Following its cash offer to purchase all the issued and outstanding shares of common stock of Anadigics at $0.35 per share in November, GaAs Labs has increased the per-share offer price to $0.54 to match the price of a competing bidder.

The competing bidder's acquisition proposal was announced on December 23, 2015 had been designated by its board of directors as a "˜superior offer' as that term is defined in the GaAs Labs Merger Agreement.

The company's board of directors says it continues to evaluate all acquisition proposals.

GaAs Labs LLC, a private US investment fund targeting the communications semiconductor market led by industry veteran John Ocampo. GaAs Labs' s portfolio includes the RF, microwave, and optical semiconductor firm Macom; and Nitronex, a company that manufactures GaN-based RF devices.

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