Chipmaker Microchip Technology Inc. has completed its acquisition of rival semiconductor vendor Micrel in a deal worth about $839 million.
Under the deal, which was announced in May, Micrel shareholders would receive $14.00 per share either in cash or shares of Microchip common stock. Microchip will pay $430 million of the transaction in cash and issue more than 8.6 million shares of its common stock to Micrel shareholders.
Microchip will add Micrel’s analog and mixed-signal chips used in the automotive and communications markets to its own analog and mixed signal portfolio and its employees will be integrated into Microchip.
With the transaction complete, trading of Micrel’s common stock will cease.
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