© evertiq Components | March 07, 2017

ADI receives final approval for its acquisition of Linear

Analog Devices has received regulatory approval from the Ministry of Commerce of China to complete its acquisition of Linear Technology Corporation. This was the final regulatory approval needed to go forward with the deal.
The parties expect to complete the acquisition on March 10, 2017. In connection with the closing, Linear Technology stockholders will receive USD 46.00 in cash and 0.2321 of a share of Analog Devices common stock per share of Linear Technology common stock.

“As we clear this final regulatory hurdle and prepare to close this transaction, we are well positioned to begin integrating Analog Devices and Linear Technology,” said Vincent Roche, ADI President and Chief Executive Officer. “Since the transaction announcement in July, our two organizations have been intensively planning and preparing to move quickly to a united operation upon close. As we now turn to that integration, we are excited about creating additional value for our customers, employees and shareholders.”

In connection with the transfer, ADI’s Chief Financial Officer, David Zinsner will resign from his position – effective March 17, 2017. Mr. Zinsner will be leaving to pursue a new role as president of a venture-backed technology company in the Boston area. Eileen Wynne, ADI’s Vice President and Chief Accounting Officer, will assume the role of interim CFO until a permanent successor has been found.

Mr. Roche commented, "I would like to thank Dave for his valuable contributions to ADI since he joined 8 years ago. His commitment, achievements, and professionalism were exemplary throughout his time with the Company, and we wish him every success in his future endeavor.”


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