Microsemi makes run at Zarlink Semiconductor

July 20, 2011
Microsemi Corp. (Nasdaq:MSCC) announced it has offered to buy Zarlink Semiconductor Inc. (TSX:ZL) for CAD $3.35 per share in cash. The total equity value of the deal would be USD $548.7 million based on a fully diluted share count

Microsemi Corp. (Nasdaq:MSCC) announced it has offered to buy Zarlink Semiconductor Inc. (TSX:ZL) for CAD $3.35 per share in cash. The total equity value of the deal would be USD $548.7 million based on a fully diluted share count.

The offer represents a 40 percent premium to Zarlink's share price as of July 19, 2011, and a 43 percent premium to Zarlink's trailing 30 day average share price, Microsemi asserts. It also exceeds every Zarlink closing share price over the last five years, the company added.

This is actually the third offer Microsemi has forwarded to Zarlink's board of directors. Zarlink management rejected the previous two without discussion – so Microsemi has decided to state its case publicly.

"We remain interested in engaging with Zarlink's board to complete a transaction that delivers value to shareholders," said James J. Peterson, Microsemi president and chief executive officer. "We are committed to building and strengthening its business, and believe our proposal provides a superior outcome for Zarlink's shareholders, employees, customers, and the local economy."

Sponsored Recommendations

Transforming the metro network and the evolution of the "Digital Service Provider"

March 4, 2025
Join experts at EXFO and Ekinops in this webinar that will review the evolving metro-centric requirements and the technologies emerging to meet them.

Innovations Optical Transceivers

March 10, 2025
The continual movement around artificial intelligence (AI) cluster environments is driving new sales of optical transceiver sales and the adoption of linear pluggable optics (...

AI and Network Convergence: Transforming Global Connectivity

March 7, 2025
In today’s hyperconnected world, rolling out and managing profitable, high-performance networks for access and transport will require innovative architectural approaches. The ...

ON TOPIC: Filling Coverage Gaps, Enhancing Public Safety

Jan. 30, 2025
With the ongoing drive to support AI and the need for high-speed data center interconnection, the call for higher-speed 800G optical technology is emerging. Initially focused ...