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US: Vitesse deal wins antitrust approval

By  |  April 8, 2015

Federal antitrust regulators have declined to review the proposed $489 million acquisition of Camarillo’s Vitesse Semiconductor by Orange County competitor Microsemi Corp.

A 15-day waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 before a deal can close expired on Tuesday without the Federal Trade Commission or antitrust division of the Justice Department making any move to block the merger.

Microsemi, in Aliso Viejo, announced March 18 it would acquire Vitesse in an all-cash transaction valued at $5.28 a share. The deal is expected to close before June 28.

Vitesse supplies integrated circuits for the telecommunications carriers, Internet providers and corporations. Microsemi supplies integrated circuits to telecommunications, defense, security, aerospace and industrial markets.

 

Full Content: Semiconductor Today

 

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