On Gear Live: ZTE Tempo X Smartphone Giveaway!

  • STICKY POST

Find Our Latest Video Reviews on YouTube!

If you want to stay on top of all of our video reviews of the latest tech, be sure to check out and subscribe to the Gear Live YouTube channel, hosted by Andru Edwards! It’s free!

Tuesday September 19, 2006 2:18 pm

Freescale Acquisition Confirmed


Posted by Brian Viele Categories: Corporate News, Misc. Tech


Freescale LogoThe Gear Live report on a possible Freescale buyout has just been confirmed. Freescale Semiconductor Inc., designer and manufacturer of embedded processors and peripherals, will be purchased by a consortium of private investment groups led by The Blackstone Group, and including The Carlyle Group, Permira Funds and Texas Pacific Group. At a $17.6 Million bottom line, this merger more than triples the value of the AMD-ATI merger that has been such huge corporate news thus far this year. The terms of the merger are a purchase price of $40 per share in cash, representing a premium of approximately 36% over Freescale’s average closing share price during the 30 trading days through September 8th, 2006. 

Much like the AMD-ATI merger, the merger was approved unanimously by the board of directors, but still awaits shareholder and U.S. antitrust approvals. Freescale also has the option to shop around for a better offer from another party, but I’m guessing a 36% margin is going to be hard to beat. 


Read More | Freescale

Latest Gear Live Videos

Advertisement

Advertisement

Commenting is not available in this channel entry.

Advertisement