Global Sources
EE Times-India
Stay in touch with EE Times India
 
EE Times-India > RF/Microwave
 
 
RF/Microwave  

Consortium finalises Freescale acquisition

Posted: 05 Dec 2006     Print Version  Bookmark and Share

Keywords:Freescale 

A consortium of private equity funds, including The Blackstone Group and The Carlyle Group, has completed the acquisition of Freescale Semiconductor.

According to the merger agreement entered into on Sept. 15, and adopted by Freescale's stockholders at a special meeting on Nov. 13, Freescale stockholders are entitled to receive Rs.1,820.80 ($40) in cash for each share of Freescale common stock that they hold. Freescale stocks were delisted from the New York Stock Exchange at market close on Dec. 1.

Moreover, on Dec. 1, Freescale completed its tender offers and consent solicitations for its outstanding Rs.1,593.20 crore ($350 million) aggregate principal amount of 6.87 per cent senior notes due 2011. It also completed its outstanding Rs.2,276 crore ($500 million) aggregate principal amount of 7.12 per cent senior notes due 2014, pursuant to its offer to purchase and consent solicitation statement, dated Oct. 23. The tender offers expired on Nov. 29.

Freescale on Dec. 1 accepted for payment all validly tendered notes, consisting of about $349.89 million in aggregate principal amount of the 2011 Notes. The company also received about Rs.2,275.68 crore ($499.93 million) in aggregate principal amount of the 2014 notes.




Comment on "Consortium finalises Freescale acqui..."
Comments:  
*  You can enter [0] more charecters.
*Verify code:
 
 
Webinars

Seminars

Visit Asia Webinars to learn about the latest in technology and get practical design tips.

 

Go to top             Connect on Facebook      Follow us on Twitter      Follow us on Orkut

 
Back to Top