Ixys takes its offer for Zilog off the table, reduces stake to less than 5%

By Lisa Kerner

Charlotte, N.C., May 28 - Ixys Corp. said its May 16 offer to acquire all the outstanding shares of Zilog, Inc. for $4.50 per share in cash and stock is no longer outstanding, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

It was previously reported that Zilog planned to respond to the offer by May 30, although Ixys requested a response by May 27.

Zilog, if acquired by the shareholder, would have operated as a distinct business division in the Silicon Valley, Ixys said.

Ixys sold a total of 158,200 shares of Zilog for $656,718.82, including commissions, on May 27 and May 28, reducing its stake in the company to 4.4%, the filing stated.

Ixys is a Milpitas, Calif., power semiconductor company.

Based in San Jose, Calif., Zilog is a supplier of eight-, 16- and 32-bit microcontroller and microprocessor system-on-a-chip products.

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