Boston, MA 09/08/2014 (wallstreetpr) – According to reports, RF Micro Devices, Inc. (NASDAQ:RFMD)‘s shareholders have given green signal to company’s plans to merge with Oregon-based TriQuint Semiconductor (NASDAQ:TQNT). At the same time, TQNT also announced the results of special meeting it held with its shareholders. As per the results, all the shareholders gave approval to its merger deal with RFMD.
RFMD Shareholder Meeting:
The decision of merger was finalized in a shareholder’s meeting that was conducted recently. As per the reports, the meeting was held around a year later after the United States Regulators finalized a proposal to combine both RF Micro Devices, Inc. (NASDAQ:RFMD) and TQNT and form the largest ever semiconductor manufacturing unit of the country.
The deal might have gotten the approval from U.S regulators, but still nothing is finalized as the merger between TriQuint Semiconductor (NASDAQ:TQNT) and RFMD is contingent on approval from the regulators of China. Both the countries have their operations running in a good state in China, which is also one of the high revenue generating sites for these semiconductor giants.
According to Bob Bruggeworth, CEO and President of RF Micro Devices, Inc. (NASDAQ:RFMD), “Votes of our shareholders are endorsements of our long-terms vision to become a global industry leader in the semiconductor industry.” He felt excited while announcing the merger transaction with TriQuint Semiconductor (NASDAQ:TQNT). Bob Bruggeworth said that after this transaction, RFMD would be able to bring the best broadest portfolio of the industry in the field of critical enabling technologies under one roof. It would not only help the company to achieve long terms success, but also fulfill its vision in coming days. TQNT is a famous name globally and has expertise in complex infrastructure, mobile devices and global defense/aerospace applications. It would be an excellent add-on for RFMD portfolio.
On the question of expected closure date of this merger transaction, both TQNT and RF Micro Devices, Inc. (NASDAQ:RFMD) said that it might close by the end of this year.
