Gold Holdings Acquires Conexant Systems
Conexant Systems | Date:
Conexant Systems, a supplier of semiconductor solutions for imaging, audio, embedded modem and video surveillance applications, signed a definitive merger agreement with Gold Holdings, an affiliate of Golden Gate Capital, under which Gold Holdings, has agreed to purchase all of the outstanding shares of Conexant common stock at a price of US$2.40 per share in cash. The transaction is expected to close in the second quarter of calendar 2011 subject to the satisfaction of regulatory requirements, approval by Conexant stockholders and other customary closing conditions.
Conexant also announced that it has terminated its previously announced agreement with Standard Microsystems and paid to Standard Microsystems the $7.7 million termination fee provided for under that agreement.