Product category:
Microprocessors, Microcontrollers and DSPs
News Release from: Freescale Semiconductor
Edited by the Electronicstalk Editorial
Team on 24 October 2006
Freescale continues transformation
Freescale Semiconductor has reported its financial results for the third quarter ended 29th September 2006.
Freescale Semiconductor has reported its financial results for the third quarter ended 29th September 2006 Third quarter 2006 highlights include: net sales of $1.62 billion; gross margin of 46.1%; operating margin of 16.4%; net earnings of $257 million; and diluted earnings per share of $0.61
This article was originally published on Electronicstalk on 20 Mar 2001 at 8.00am (UK)
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"I am pleased with the progress in our execution", said Michel Mayer, Chairman and CEO.
"We are continuing to transform Freescale into an industry leader".
On 15th September 2006, Freescale announced that it had entered into a definitive merger agreement to be acquired by a private equity consortium in a transaction with a total equity value of approximately $17.6 billion.
The consortium is led by The Blackstone Group, and includes The Carlyle Group, Permira Funds and Texas Pacific Group.
Under the terms of the merger agreement, the consortium will acquire all of the outstanding Class A and Class B shares of Freescale for $40 per share in cash, representing a premium of approximately 36% over Freescale's average closing share price during the 30 trading days ended 8th September 2006.
The company first acknowledged it was in discussions with third parties regarding a possible transaction on 11th September 2006.
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