Product category:
Power Supply ICs and Controllers
News Release from: Fairchild Semiconductor
Edited by the Electronicstalk Editorial
Team on 18 January 2007
System General acquisition proceeds to
plan
As of 11th January 2007 at least 53% of System General shares have been tendered in response to Fairchild's tender offer announced on 2nd January 2007.
As of 11th January 2007 at least 53% of System General shares have been tendered in response to Fairchild's tender offer announced on 2nd January 2007, effectively ensuring the company will acquire the Taipei-based analogue semiconductor company As the minimum acceptance level for the tender was 50.1% of outstanding shares, Fairchild now expects to end its tender offer on 31st January 2007 in Taipei, purchase the majority of System General's shares in early February, and assume legal control of System General in mid-March
This article was originally published on Electronicstalk on 28 Feb 2001 at 8.00am (UK)
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Completion of the tender offer remains subject to regulatory approvals, which the company expects to obtain.
The company expects to complete a share swap and merger and assume 100% ownership of System General by the end of the second quarter of 2007.
"We are pleased that we were able to achieve a successful tender in only eight trading days", said Mark Thompson, Fairchild's President and CEO.
"We believe that receiving support from the System General management team, board of directors, and a majority of shareholders reflects a clear recognition of the benefit to both companies in combining System General's experienced power analogue executives, their growing portfolio of analogue power semiconductors, and their design and applications engineering teams with Fairchild's global position in power semiconductors".
"With the addition of System General, Fairchild is poised to become a world leader in the AC/DC offline power conversion market".
"We believe this investment in a leading company with a strong Taiwan-based R and D design centre, will enhance the combined company's abilities to service local power supply manufacturers, and help strengthen System General's technical and innovation capabilities", said Thompson.
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