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ON Semiconductor to buy Fairchild for about $2.3 billion
2015-11-18 21:59:04| Electronics - Topix.net
" ON Semiconductor Corp. said Wednesday that it plans to buy Fairchild Semiconductor for about $2.3 billion in cash, to expand its products in the automotive, industrial and smartphone industries. ON Semiconductor is offering $20 for each share of Fairchild.
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ON Semiconductor to acquire Fairchild for USD 2.4 bln
2015-11-18 15:20:00| Telecompaper Headlines
(Telecompaper) The latest move in the consolidating chip market will see ON Semiconductor acquire Fairchild Semiconductor for USD 2.4 billion cash. ON agreed to pay USD 20 per share for Fairchild, creating a leader in the power semiconductor market with combined revenue of approximately USD 5 billion per year. The new company will serve multiple markets, with a strategic focus on automotive, industrial and smartphones. ON said the takeover will add immediately to adjusted EPS and free cash flow, excluding any one-time acquisition-related charges. The company expects to achieve annual cost savings of USD 150 million within 18 months of closing the transaction. The company has secured a new credit line of USD 2.4 billion to help finance the deal, along with cash on hand. The debt financing commitment also includes provisions for a USD 300 million revolving credit facility, which will be undrawn at close. ON Semiconductor also said it remains committed to its share repurchase program, and the agreed upon financing provides flexibility to continue share repurchases going forward. Pending regulatory approval, the transaction is expected to close late in Q2 2016.
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ON Semiconductor to Buy Fairchild Semiconductor for $2.4 Billion
2015-11-18 14:19:47| Semiconductors - Topix.net
ON Semiconductor has agreed to acquire fellow chip company Fairchild Semiconductor for about $2.4 billion in cash, the latest deal in the consolidating semiconductor space. The price tag of $20 a share values Fairchild at a 41% premium to where the stock was trading before news reports last month suggested Fairchild was seeking a buyer.
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ON Semiconductor to Acquire Fairchild Semiconductor for $2.4 Billion in Cash
2015-11-18 14:19:46| Semiconductors - Topix.net
November 18, 2015 -- ON Semiconductor Corporation and Fairchild Semiconductor International Inc. today announced that they have entered into a definitive agreement for ON Semiconductor to acquire Fairchild for $20.00 per share in an all cash transaction valued at approximately $2.4 billion. The acquisition creates a leader in the power semiconductor market with combined revenue of approximately $5 billion, diversified across multiple markets with a strategic focus on automotive, industrial and smartphone end markets.1 "The combination of ON Semiconductor and Fairchild creates a power semiconductor leader with strong capabilities in a rapidly consolidating semiconductor industry.
ON Semiconductor to buy Fairchild in US$2.4 billion deal
2015-11-18 14:19:45| Semiconductors - Topix.net
REUTERS: ON Semiconductor Corp said it would buy Fairchild Semiconductor International Inc in a US$2.4 billion deal, the latest in a rapidly consolidating semiconductor industry. The offer of US$20 per share represents a premium of nearly 12 percent to Fairchild's Tuesday close.
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