Analog Devices Completes Tender Offer
22 Julho 2014 - 8:00AM
Business Wire
Acquisition of Hittite Microwave Expected to Be
Completed Later Today
Analog Devices, Inc. (NASDAQ:ADI), a global leader in
high-performance semiconductors for signal processing applications,
today announced it has completed its tender offer to purchase all
outstanding shares of common stock of Hittite Microwave Corporation
(NASDAQ:HITT) for $78.00 per share in cash, and ADI has accepted
for payment and will promptly pay the depositary for all validly
tendered shares. ADI expects to complete the acquisition of Hittite
Microwave later today and will issue a press release to notify
stakeholders.
The tender offer expired at 12:00 midnight, New York City time,
at the end of July 21, 2014. As of the expiration of the tender
offer, 23,291,991 shares of Hittite Microwave common stock had been
validly tendered and not validly withdrawn, representing
approximately 74.2% of Hittite Microwave’s outstanding shares of
common stock.
ADI expects to complete the acquisition of Hittite Microwave
through a merger under Section 251(h) of the General Corporation
Law of the State of Delaware (the “DGCL”). Pursuant to the merger,
each remaining eligible share of Hittite Microwave common stock
will be converted into the right to receive an amount in cash equal
to the same $78.00 per share in cash that will be paid in the
tender offer. Eligible shares exclude shares held by ADI or Hittite
Microwave or their respective wholly owned subsidiaries and those
held by any stockholder of Hittite Microwave who properly demanded
appraisal under Section 262 of the DGCL.
Forward-Looking Statements
This press release contains forward-looking statements regarding
ADI’s planned completion of the acquisition of Hittite Microwave.
Statements that are not historical facts, including statements
about our beliefs and expectations, are forward-looking statements.
Such statements are based on our current expectations and are
subject to a number of factors and uncertainties, which could cause
actual results to differ materially from those described in the
forward-looking statements. For information about factors that
could cause actual results to differ materially from those
described in the forward-looking statements, please refer to ADI’s
filings with the SEC, including the risk factors contained in ADI’s
most recent Quarterly Report on Form 10-Q. Forward-looking
statements represent management’s current expectations and are
inherently uncertain. Except as required by law, we do not
undertake any obligation to update forward-looking statements made
by us to reflect subsequent events or circumstances.
About Analog Devices
Innovation, performance, and excellence are the cultural pillars
on which ADI has built one of the longest standing, highest growth
companies within the technology sector. Acknowledged industry-wide
as a leader in data conversion and signal conditioning technology,
ADI serves over 60,000 customers, representing virtually all types
of electronic equipment. ADI is headquartered in Norwood,
Massachusetts, with design and manufacturing facilities throughout
the world. ADI’s common stock is included in the S&P 500
Index.
Analog Devices, Inc.Mr. Ali Husain,
781-461-3282investor.relations@analog.com
Analog Devices (NASDAQ:ADI)
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