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Tsinghua Unigroup to acquire Spreadtrum
2013-07-12 15:41:00| Telecompaper Headlines
(Telecompaper) Tsinghua Unigroup, a state-owned corporation funded by Tsinghua University in China, has entered into a definitive merger agreement to acquire Spreadtrum Communications for USD 31 per American Depository Share. This is equal to USD 10.33 per ordinary share, as each ADS represents three ordinary shares. The deal values Spreadtrum's equity at approximately USD 1.78 billion, on a fully diluted basis. The transaction is subject to approval by the shareholders of Spreadtrum, and antitrust and other regulatory approvals, and is not subject to any financing condition. Based in Shanghai, Spreadtrum is a fabless semiconductor maker, focused on CDMA-based products.
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Category:Telecommunications