Mergers and Acquistions News
Categories: Semi-Conductors
January 5th 2010, 16:45PM
ON Semiconductor has announced the beginning of its tender offer for the acquisition of California Micro Devices Corporation (CMD), a supplier of specific analogue and mixed signal semiconductor products.
The cash tender offer is for all outstanding shares of CMD common stock at a price of $4.70 (£2.93) per share, which expires at the end of January 26th.
Keith Jackson, president and chief executive officer of ON Semiconductor, said the company expects to be able to support a broader and deeper penetration of CMD's product portfolio with market-leading customers.
"The acquisition of CMD will significantly strengthen our offering of application specific integrated passive devices to protect products in the wireless, computing and consumer electronics end-markets," he added.
In November, ON Semiconductor became an applicant member of the Electronic Industry Citizenship Coalition, an organisation established in 2004 to promote a common code of conduct for the electronics, information and communications technology industry.
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