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Alltech, Ridley Agree Merger
2015-04-29 02:00:00| ThePigSite - Industry News
NORTH AMERICA - A merger of two global livestock feed companies has been agreed.
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NXP, Freescale Semiconductor agree merger
2015-03-02 08:06:00| Telecompaper Headlines
(Telecompaper) NXP Semiconductors and Freescale Semiconductor have agreed a merger creating a new chipmaker with over USD 10 billion in annual sales. The new company will be market leader in automotive semiconductors and general purpose microcontroller products, while also holding a strong portfolio in growth areas such as security, connectivity and processing. Synergies from the merger are expected to lead to cost savings of USD 200 million in the first year and USD 500 million by completion of the integration. Under the terms of the agreement, Freescale shareholders will receive USD 6.25 in cash and 0.3521 of a NXP ordinary share for each Freescale common share held at the close of the transaction. This price values Freescale at USD 11.8 billion, based on NXP's most recent share price, and and a total enterprise value of USD 16.7 billion including Freescale's net debt. Subject to regulatory and shareholder approval, the transaction is expected to close in the second half of 2015. NXP will fund the deal with USD 1.0 billion of cash on hand, USD 1.0 billion of new debt and 115 million NXP shares. After the takeover, Freescale shareholders will own 32 percent of the combined company.
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Telecity, Interxion agree all-share merger
2015-02-11 08:44:00| Telecompaper Headlines
(Telecompaper) The European data centre operators Interxion and Telecity have agreed an all-share merger. The deal will take the form of a Telecity bid for Interxion, with the new company to remain listed in London. Interxion shareholders would receive 2.3386 new TelecityGroup shares for each Interxion share held, giving them 45 percent of the combined group. Interxion CEO David Ruberg, who led negotiations on the deal, will remain CEO for at least the first year, and Telecity's executive chairman John Huges will be chairman of the new company. In addition to an enhanced footprint of data centres, the companies expect an extra GBP 40 million in EBITDA per year from cost and revenues synergies as well as GBP 300 million in savings on capital expenditure. The deal remains subject to a definitive agreement, due diligence and approval by both companies' boards. Telecity has agreed to not consider other proposals until 04 March. Pending shareholder and regulatory approval, the merger is expected to close in the second half of this year.
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agree merger
Cypress, Spansion agree all-stock merger
2014-12-02 09:03:00| Telecompaper Headlines
(Telecompaper) Cypress Semiconductor and Spansion announced a definitive agreement to merge in an all-stock transaction valued at USD 4 billion. The post-merger company will generate more than USD 2 billion in revenue annually and create a leading global provider of microcontrollers and specialized memories for embedded systems. Under the terms of the agreement, Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own. The shareholders of each company will own approximately 50 percent of the post-merger company. The company will have an eight-person board of directors consisting of four Cypress directors, including T.J. Rodgers and Eric Benhamou, and four Spansion directors, including John Kispert and Ray Bingham, the Spansion chairman, who will serve as the non-executive chairman of the combined company. The group will be headquartered in California and called Cypress Semiconductor. The merger is expected to result in more than USD 135 million in cost synergies on an annualized basis within three years and to add to non-GAAP earnings within the first full year after closing. The combined company will continue to pay USD 0.11 per share in quarterly dividends to shareholders. Closing is subject to approval by Cypress and Spansion stockholders and review by regulators in the US, Germany and China. Cypress and Spansion expect the deal to close in the first half of 2015.
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Sprint, T-Mobile CEOs agree on one thing: Merger means scale
2014-06-04 05:20:55| IT Services - Topix.net
After reports that the parents of Sprint Corp. and T-Mobile US Inc. are coming closer to a merger deal, T-Mobile CEO John Legere said such scale should scare the top dogs in U.S. telecom.