This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Microchip Technology And Supertex Announce The Completion Of The Acquisition Of Supertex By Microchip Technology

Microchip Technology Incorporated (NASDAQ: MCHP) (“Microchip”) and Supertex, Inc. (NASDAQ: SUPX) (“Supertex“) today announced that Microchip has completed its previously announced acquisition of Supertex following approval of the transaction by Supertex shareholders at Supertex’s special meeting of shareholders held today.

Approximately 98.4% of the Supertex shares that voted were voted in favor of the merger in which Supertex shareholders will receive $33.00 per share in cash. Overall, approximately 87.7% of the total outstanding Supertex shares were voted. Therefore, approximately 86.43% of the total outstanding Supertex shares were voted in favor of the acquisition transaction.

“We are very pleased to have completed our acquisition of Supertex,” said Steve Sanghi, President and CEO of Microchip. "I welcome the Supertex employees into the Microchip family and look forward to building a combined organization that will bring the capabilities of both organizations to bear in the marketplace.”

As a result of the completion of the transaction, trading in Supertex common stock on the NASDAQ will cease effective after the close of market today.

Microchip will share more information regarding the Supertex transaction during its Q4 and FY2014 financial results conference call scheduled for Tuesday, May 6, 2014.

Cautionary Statement:

The statement in this release relating to building a combined organization that will bring the capabilities of both organizations to bear in the marketplace is a forward-looking statement made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This forward-looking statement is subject to a number of business, economic, legal and other risks that are inherently uncertain and difficult to predict, including, but not limited to: changes in demand or market acceptance of the products of Microchip and Supertex and the products of their customers; competitive developments; the costs and outcome of any current or future litigation involving Microchip, Supertex or the acquisition transaction; the effect of the acquisition on Microchip’s and Supertex’s existing relationships with customers and vendors and their operating results and businesses; the progress and costs of development of Microchip and Supertex products and the timing and market acceptance of those new products; Microchip’s ability to successfully integrate Supertex’s operations and employees and retain key employees; and general economic, industry or political conditions in the United States or internationally. For a detailed discussion of these and other risk factors, please refer to the SEC filings of Microchip and Supertex including those on Forms 10-K and 10-Q. You can obtain copies of Forms 10-K and 10-Q and other relevant documents for free at Microchip’s website ( www.microchip.com), at Supertex’s website ( www.supertex.com) (as applicable) or the SEC's website ( www.sec.gov) or from commercial document retrieval services.

Stockholders of Microchip and Supertex are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date such statements are made. Neither Microchip nor Supertex undertakes any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this April 1, 2014 press release, or to reflect the occurrence of unanticipated events.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,391.37 +39.99 0.24%
S&P 500 1,954.44 +5.58 0.29%
NASDAQ 4,746.2410 -3.7380 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs