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Antitrust clearance in U.S. of Microchip / SMSC deal
Microchip Technology has received antitrust clearance in the U.S. and has submitted non-U.S. antitrust filings for the acquisition of SMSC.
Microchip and SMSC (Standard Microsystems Corporation) were granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 on May 18, 2012.
Microchip also announced that the required non-U.S. filings for pre-closing antitrust clearance applicable to the merger have been submitted. The required filings were submitted in China on May 23, 2012, in Germany on May 24, 2012, in Korea on May 31, 2012, and in Turkey on June 4, 2012.
Completion of the merger remains subject to antitrust clearance in these countries, along with certain other closing conditions, including approval by SMSC stockholders of the merger. The special meeting of SMSC stockholders to approve the merger will be held on July 10, 2012. Microchip continues to expect that the transaction will close in the third calendar quarter of 2012.
