Boston, MA 04/29/2014 (wallstreetpr) – Faruqi & Faruqi, LLP, partner Juan E. Monteverde investigates the sale of TriQuint Semiconductor (NASDAQ:TQNT) to RF Micro Devices, Inc. (NASDAQ:RFMD) for ~$1.6 billion. Juan expects possible threats on TriQuint’s Board actions and, therefore, intends to investigate the deal transaction. They already filed a complaint against the TriQuint.
The investigation primarily focuses on whether TriQuint’s Board failed to conduct fair sales process or not, and also how much of the proposed transaction undervalues the Company with the loss of shareholders.
Deal transaction
As per the agreement, TriQuint Semiconductor (NASDAQ:TQNT)’s investors will receive 1.675 shares of the newly combined company for each share of TriQuint. On the other end, the exchange ratio for RF Micro Devices, Inc. (NASDAQ:RFMD) shareholders is 1.0x of the new company. The deal is likely to close by second half of 2014.
Strategic benefit
The wireless industry is undergoing through a paradigm shift with rapidly changing technologies. The growing demands to increase the network capacity and LTE (4G LTE) for high-speed data for mobile phones and terminals drive growth for base stations and optical transport market. So, the industry is building the next generation infrastructure for mobile devices and network to meet the challenge.
RF Micro Devices, Inc. (NASDAQ:RFMD) is a global leader in high performance RF solutions and the integration with TriQuint Semiconductor (NASDAQ:TQNT) will further enhance its manufacturing capability. The merger will create a $2.0 billion RF solution that offers an extensive portfolio of RF technologies and become a market leader in products based on gallium-nitride (GaN), gallium-arsenide (GaAs) and CMOS technology. The growing use of military and commercial applications will further drive growth for the micro-electronic products such as GaN.
The alliance will create innovation in the mobile data ecosystems including base station to mobile devices. It will provide a comprehensive portfolio of critical RF technologies to mobile, network infrastructure and defense customers and also creates larger opportunities for RF solutions.
Conclusion
The alliance between TriQuint Semiconductor (NASDAQ:TQNT) and RF Micro Devices, Inc. (NASDAQ:RFMD) will benefit a large number of customers and shareholders unless TriQuint provides transparency in the sales process.
