Silicon Valley set to lose yet another public company(0)
The valley is to lose yet another public company as Catalyst Semiconductor, a fabless maker of programmable semiconductors based in Santa Clara, has agreed to be acquired by ON Semiconductor of Phoenix, Ariz., according to filings early today with the SEC.
The all-stock transaction will give Catalyst shareholders 0.706 shares of ON Semiconductor common stock for each share of Catalyst common stock they own, which represented a value to Catalyst shareholders of $6.24 per share, a premium of 54 percent to where its shares closed Wednesday, and based on a closing price for ON Semiconductor shares of $8.84 that day.
The deal, announced before the markets opened Thursday, was given a thumbs up Read the rest of this entry »
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