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ON Semiconductor finalizes all-stock takeover of Catalyst Semiconductor
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ON Semiconductor Corporation has signed a definitive agreement for the
takeover of Catalyst Semiconductor, Inc. The all-stock transaction will
see Catalyst shareholders receive 0.706 shares of ON Semiconductor
common stock per Catalyst share, which represents an approximate equity
value of $115 million and an enterprise value of approximately $85
million.
“This transaction represents a compelling opportunity for Catalyst employees, customers and shareholders,” sai Gelu Voicu, CEO of Catalyst Semiconductor. “To compete successfully in today’s global marketplace, size and scale are very important. We are pleased to become part of a leading global company in the semiconductor sector. ON Semiconductor’s world-class operational capabilities and supply chain will enable Catalyst Semiconductor’s products to better penetrate the automotive, consumer, and industrial end-markets utilizing ON Semiconductor’s global customer and channel footprint.”
By Síle Mc Mahon