According to the final tally of shares voted, 17,587,576 shares of SMSC common stock voted in favor of the adoption of the acquisition agreement, which represented approximately 99.
Under terms of the acquisition agreement, dated May 1, 2012, Microchip will acquire SMSC in an all-cash transaction and SMSC stockholders will receive $37.
If you wish to receive a printed copy of the Company's annual report or the proxy materials for the Annual meeting, please submit a request in writing to Investor Relations, SMSC
, 80 Arkay Drive, Hauppauge, NY 11788.
Conexant's board of directors, in consultation with its financial and legal advisors, determined that the Revised Proposal is a "Superior Proposal" as such term is defined in the SMSC Agreement.
In connection with the proposed merger transaction with SMSC (the "SMSC Transaction"), SMSC will file with the Securities and Exchange Commission (the "SEC") a Registration Statement on Form S-4 that will include a proxy statement of Conexant and a prospectus of SMSC.
These risks and uncertainties include risks relating to the ability to obtain regulatory approvals of the SMSC
Transaction on the proposed terms and schedule; the failure of Conexant stockholders to approve the SMSC
Transaction; a failure to consummate or delay in consummating the SMSC
Transaction for other reasons; disruption from the SMSC
Transaction making it more difficult to maintain relationships with customers, employees or suppliers; competition and its effect on pricing, spending, third-party relationships and revenues; and other risks relating to Conexant's business set forth in its filings with the SEC.
SMSC is a leading developer of Smart Mixed-Signal Connectivity[TM] solutions.
SMSC, MOST and Kleer are registered trademarks and Smart Mixed-Signal Connectivity, TrueAuto and RightTouch are trademarks of Standard Microsystems Corporation.
Many of the world's most successful global technology companies rely upon SMSC as a go-to resource for semiconductor system solutions that span analog, digital and mixed-signal technologies.
SMSC is headquartered in Hauppauge, New York with operations in North America, Asia and Europe.
is based in Hauppauge, New York with operations in North America, Asia and Europe.
The Korean semiconductor market is continuing on a path of rapid growth and development, particularly for consumer electronics and PC design," said Mitch Statham, Vice President of Worldwide Sales at SMSC