Boston, MA 06/18/2014 (wallstreetpr) – TriQuint Semiconductor (NASDAQ:TQNT) and RF Micro Devices, Inc (NASDAQ:RFMD) announced that the waiting period for a complaint under the HSR Act (U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976) related to the merger between the companies ends on June 13, 2014.
A complaint has registered as there is no fair transaction in the deal. But, there is no action taken by the Federal Trade Commission (FTC) or the U.S. Department of Justice against the deal within the period.
Clears The Preliminary Step
The completion of the waiting period satisfies one of the conditions about the transaction. But, the business combination still requires the approval of both the companies’ shareholders, regulatory and the usual closing formalities.
The Deal Between RFMD And TriQuint
On February 24, 2014, both the companies enter into business combination agreement for an equal transaction and expect to close the deal by second half of 2014. According to the merger agreement, RF Micro Devices, Inc (NASDAQ:RFMD) stakeholders will receive 0.2500 of a share of the common stock of combined company per share of RFMD and TriQuint investors will receive 0.4187 of a share of common stock of combined entity per shares of TriQuint Semiconductor (NASDAQ:TQNT). After the end of the transaction, each company will hold 50% of the shares of common stock in the joined entity.
A Consolidation Over Technology
RF Micro Devices, Inc (NASDAQ:RFMD) offers a wide range of products in radio frequencies (RF) technologies and become a global leader in high performance RF solutions. The integration of TriQuint will further improve its manufacturing capability and design and develop next generation infrastructure solution including RF solutions for mobile devices and network.
The alliance between RFMD and TriQuint Semiconductor (NASDAQ:TQNT) will create growth opportunity in mobile data ecosystems. It will benefit both the mobile and infrastructure customers including customers from the aerospace and defense market. It will offer a comprehensive range of next generation products and technologies.
