News Posts matching "Merger"

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Dell Stockholders Approve Merger Transaction

Dell today announced that, based on a preliminary vote tally from the special meeting of stockholders, Dell stockholders have approved the proposal in which Michael Dell, Dell's Founder, Chairman and CEO, will acquire Dell in partnership with global technology investment firm Silver Lake Partners.

In connection with the transaction, Dell stockholders will receive $13.75 in cash for each share of Dell common stock they hold, plus payment of a special cash dividend of $0.13 per share to stockholders of record as of a date prior to the effective time of the merger, for total consideration of $13.88 per share in cash. The agreement also guarantees the regular quarterly dividend of $0.08 per share for the fiscal third quarter would be paid to holders of record as of a date prior to closing. The total transaction is valued at approximately $24.9 billion.

IDT Announces End of "Go-Shop" Period in PLX Technology Acquisition

Integrated Device Technology, Inc. (IDT), the Analog and Digital Company delivering essential mixed-signal semiconductor solutions today announced the expiration of the "go-shop" period pursuant to the terms of the previously announced merger agreement with PLX Technology, Inc. ("PLX"), dated April 30, 2012, which contemplates the exchange offer for all outstanding shares of PLX common stock, followed by a second step merger.

Pursuant to the "go-shop" provisions of the merger agreement, PLX and its representatives were permitted to actively solicit alternative acquisition proposals for a period of 30 calendar days, which expired at 11:59 p.m. California time on May 30, 2012, and to continue negotiations with certain qualifying "excluded parties" for up to an additional 15 days thereafter. On May 31, 2012, PLX confirmed that it did not receive any superior acquisition proposals during the "go shop" period and that no qualifying "excluded party" would be permitted to engage in any subsequent negotiations.

HP Names John Schultz Executive Vice President and General Counsel

HP today announced that John Schultz has been promoted to the position of executive vice president and general counsel, effective immediately. Schultz, who joined HP in 2008, will be a member of HP’s executive council and report to Meg Whitman, president and chief executive officer, HP.

As general counsel, Schultz is responsible globally for all legal and compliance functions. His previous role was vice president and deputy general counsel in charge of litigation.

Micron to Buy US $500M Worth Elpida Shares

Idaho-based Micron Technology is reportedly going to spend at least US $500 million in purchasing a stake in its Japanese rival, Elpida, according to a Economic Daily News report. This development closely follows reports of an equity tie-up between the two companies, with a decision emerging in February.

Taiwanese Nanya Technology and Inotera Memories stated in recent reports that DRAM makers should consider uniting their operations as such moves could contribute to the industry's sustainable development. Elpida refused to comment on this latest report. What does this mean to the consumer? The year 2011 has been a bloodbath for DRAM makers as overproduction led to drastic drops in PC memory prices, and a watershed for PC consumers as a result. These latest developments could contribute to the inevitable rebound of DRAM prices in 2012.Source: DigiTimes

Micron, Elpida and Nanya Reportedly Having Merger Talks

According to a Japanese newspaper (Yomiuri), the country's last DRAM manufacturer, Elpida Memory, is fishing for a merger with two other memory companies, US-based Micron Technology and Taiwan's own Nanya Technology.

If it will go through, the merger would create a company better positioned in the memory market, and more capable of fighting South Korean companies like Samsung Electronics and Hynix Semiconductor.

While the company didn't comment on the merger talks, Elpida's President Yukio Sakamoto is said to have made a trip to the US last week to further negotiations with Micron. It's still uncertain how advanced are the talks but a deal could be signed this year.Source: Reuters
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