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US/Germany: Microchip receives clearance for Micrel acquisition

 |  June 21, 2015

Microchip Technology a Chandler-based semiconductor manufacturer, announced it has been cleared to acquire Micrel.

The clearance had expired on June 15 and the Federal Cartel Office in Germany cleared the transaction two days later.

The Hart-Scott-Rodino Antitrust laws require companies to submit a detailed filing with both the Federal Trade Commission and the US Department of Justice to clear the company before the completion of mergers, acquisitions or transfers of securities and assets. The goal of this act is to ensure that the merger or acquisition will not affect US commerce.

There is no further antitrust clearance required for closure of the $839 million transaction.

Completion of the merger remains subject to certain closing conditions, including approval by Micrel shareholders of the merger. The special meeting of Micrel shareholders to approve the merger has not yet been set.

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