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Microchip's SMSC purchase given a green light

Posted: 02 Aug 2012 ?? ?Print Version ?Bookmark and Share

Keywords:Microchip Technology? Standard Microsystems? acquisition? MOFCOM?

China's antitrust regulatory bureau has cleared Microchip Technology's $939 million acquisition of Standard Microsystems Corp. (SMSC). Microchip said China's Anti-Monopoly Bureau of the Ministry of Commerce informed the company that the acquisition had cleared review.

Microchip said in June that the acquisition was cleared by the U.S. The company also got clearance for the acquisition from Germany, South Korea and Turkey.

"We are pleased that receiving the confirmation from MOFCOM completes all of the regulatory approvals for the transaction to acquire SMSC," said Steve Sanghi, Microchip's president and CEO. "We anticipate the closing of the transaction to take place on August 2, 2012, and moving forward in achieving business goals of the combined companies."

- Dylan McGrath
??EE Times

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