Bidding for Anadigics continues
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.
