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© Texas Instruments Components | April 05, 2011

TI to acquire National Semi

Texas Instruments Incorporated and National Semiconductor have signed a definitive agreement under which TI will acquire National for $25 per share in an all-cash transaction of about $6.5 billion.
Upon close of the transaction, National becomes part of TI's analog segment, and sales of analog semiconductors will represent almost 50% of TI's revenue.

The combined company also will benefit from National's manufacturing operations, located in Maine, Scotland and Malaysia, which TI will continue to operate. Each site has additional capacity to increase production. National's headquarters will remain in Santa Clara, California.

Under terms of the agreement, National stockholders will receive USD 25 in cash for each share of National common stock they hold at the time of closing. TI expects to fund the transaction with a combination of existing cash balances and debt. The acquisition is subject to customary closing conditions, including review by U.S. and international regulators and approval by National's shareholders. The transaction is expected to close in six to nine months.

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