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US: Microcontroller giant to emerge

By  |  January 19, 2015

Cypress Semiconductor Corp. and Spansion Inc. have received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) for their merger proposal. With the waiting period termination and the notification from Germany’s Federal Cartel Office, the merger is only waiting for approval from Japan, the effectiveness of Cypress’s registration statement on Form S-4 which was initially filed with the SEC on December 19, 2014, and approval by both companies stockholders..

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    The merged company will generate an estimated $2 billion in revenue annually following all-stock, tax-free transaction valued at approximately $4 billion. The shareholders of each company will own approximately 50 percent of the merged company after the deal is finalized which is expected to occur within the first half of 2015.

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