ALISO VIEJO, Calif.,
April 21, 2016 /PRNewswire/
-- Microsemi Corporation (Nasdaq: MSCC), a leading
provider of semiconductor solutions differentiated by power,
security, reliability and performance, today announced the early
termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended (the "HSR Act")
occurred at 10:55 a.m. EDT on
April 20, 2016, in connection with
the previously announced sale by Microsemi of a non-strategic
component of a board level systems and packaging business to
Mercury Systems, Inc. (Nasdaq: MRCY), for $300 million in cash. Termination of the HSR Act
waiting period satisfies one of the conditions to closing of the
pending transaction. The closing of the transaction remains subject
to other customary closing conditions.
About Microsemi
Microsemi Corporation (Nasdaq: MSCC)
offers a comprehensive portfolio of semiconductor and system
solutions for communications, defense & security, aerospace and
industrial markets. Products include high-performance and
radiation-hardened analog mixed-signal integrated circuits, FPGAs,
SoCs and ASICs; power management products; timing and
synchronization devices and precise time solutions, setting the
world's standard for time; voice processing devices; RF solutions;
discrete components; enterprise storage and communication
solutions, security technologies and scalable anti-tamper products;
Ethernet solutions; Power-over-Ethernet ICs and midspans; as well
as custom design capabilities and services. Microsemi is
headquartered in Aliso Viejo,
Calif., and has approximately 4,800 employees globally.
Learn more at www.microsemi.com.
Microsemi and the Microsemi logo are registered trademarks or
service marks of Microsemi Corporation and/or its affiliates.
Third-party trademarks and service marks mentioned herein are the
property of their respective owners.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This release contains forward-looking
statements based on current expectations or beliefs, as well as a
number of assumptions about future events, and these statements are
subject to factors and uncertainties that could cause actual
results to differ materially from those described in the
forward-looking statements. The reader is cautioned not to put
undue reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of
uncertainties and other factors, many of which are outside the
control of Microsemi. The forward-looking statements in this
release address a variety of subjects including, for example, the
expected date of closing of the divestiture and any other
statements of belief or about Microsemi's plans, beliefs or
expectations. The following factors, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: costs associated with the transaction;
the occurrence of any event, change or other circumstances that
could give rise to the termination of the definitive agreement; the
possibility that various conditions to the consummation of the
divestiture may not be satisfied or waived, including the receipt
of required regulatory clearances; the risk that the divestiture
will not close within the anticipated time period; the effects of
local and national economic, credit and capital market conditions
on the economy in general; and other risks and uncertainties
described herein, as well as those risks and uncertainties
discussed from time to time in our other reports and other public
filings with the U.S. Securities and Exchange Commission ("SEC"),
including, but not limited to, those detailed in Microsemi's Annual
Report on Form 10-K for the year ended September 27, 2015 and all subsequent Form 10-Q
reports filed by Microsemi with the SEC. The forward-looking
statements contained herein are made only as of the date hereof,
and we undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
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SOURCE Microsemi Corporation