ON Semiconductor Extends Tender Off To Acquire Fairchild Semiconductor
ON Semiconductor Corp (NASDAQ: ON) announced Friday it will extend its previously announced tender offer to fully acquire Fairchild Semiconductor Intl Inc (NASDAQ: FCS) for a price of $20.00 per share.
According to ON Semiconductor, its current offer will expire one minute after 11:59 p.m. EST, April 14, 2016. The company added that all other terms and conditions for the acquisition remain the same.
ON Semiconductor noted that as of the end of March, approximately 26.5 million shares, (23.3 percent of the outstanding shares) of Fairchild have been validly tendered and not properly withdrawn pursuant to the offer.
Shares of ON Semiconductor were trading higher by 0.73 percent at $9.66 mid-Friday afternoon, while shares of Fairchild were trading within 2 cents of the takeover offer throughout the entire trading session.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Acquisitions fairchild ON SemiconductorM&A News Trading Ideas
