- Buyers Guide
Military Microwaves Supplement
Freescale Semiconductor Inc., a global leader in the design and manufacture of embedded semiconductors for wireless, networking, automotive, consumer and industrial markets, announced that it has entered into a definitive merger agreement to be acquired by a private equity consortium in a transaction with a total equity value of $17.6 B. The consortium is led by The Blackstone Group, and includes The Carlyle Group, Permira Funds and Texas Pacific Group.
Under the terms of the merger agreement, the consortium will acquire all of the outstanding Class A and Class B shares of Freescale for $40 per share in cash, representing a premium of approximately 36 percent over Freescale's average closing share price during the 30 trading days ended September 8, 2006. The company first acknowledged it was in discussions with third parties regarding a possible transaction on September 11, 2006. The board of directors of Freescale has unanimously approved the merger agreement and resolved to recommend that Freescale's stockholders adopt the agreement.
Get access to premium content and e-newsletters by registering on the web site. You can also subscribe to Microwave Journal magazine.