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Chipmaker Microchip to buy Supertex for $394 mln in cash

10
Feb
2014

(Reuters) – Chipmaker Microchip Technology Inc said it would buy Supertex Inc for $394 million in cash to bolster its business that supplies to the medical, LED lighting, industrial and telecommunication industries. The offer of $33 per share represents a premium of 35 percent to Supertex stock’s Friday closing price of $24.38. Supertex shares rose slightly above the offer price to a high of $33.15 in early trading. Microchip expects the deal to add to its adjusted earnings per share in the first full quarter after completion, likely by the second quarter of 2014.

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