© mikael damkier Business | August 05, 2015

Microchip completes acquisition of Micrel

Microchip Technology has completed its previously announced acquisition of Micrel.
Shareholders of Micrel overwhelmingly approved the merger with 98.95% of the Micrel shares that voted in favor of the merger.

“We are very pleased to have completed our acquisition of Micrel,” said Steve Sanghi, President and CEO. "I welcome the Micrel 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.”

Under the terms of the merger agreement, Micrel shareholders were able to elect to receive the USD 14.00 per share purchase price in either cash or shares of Microchip common stock. Based on the results of the shareholder elections, Microchip will pay an aggregate of approximately USD 430 million in cash and issue an aggregate of 8,626,795 shares of its common stock to Micrel shareholders.


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