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Rigrodsky & Long, P.A., a national securities firm with offices in Delaware and New York, announces that it is investigating potential claims against the board of directors of Standard Microsystems Corporation (“Standard Microsystems” or the “Company”) (NASDAQ GS:
SMSC) over the Company’s entry into an definitive agreement to be acquired by Microchip Technology Incorporated (“Microchip Technology”) (NASDAQ GS:
MCHP) in a cash transaction valued at approximately $939 million.
Under the terms of the agreement, Standard Microsystems shareholders will receive $37.00 per share in cash. The acquisition is subject to customary closing conditions, and is expected to close in the third quarter of calendar 2012.