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Date set for closing of ON Semiconductor, AMIS merger
By Lisa Kerner
Charlotte, N.C., March 12 - Stockholders of both ON Semiconductor Corp. and AMIS Holdings, Inc. approved the two companies' merger agreement first announced in December.
The transaction is expected to close on Monday, according to a company news release.
ON Semiconductor agreed to acquire AMIS in an all-stock transaction with an estimated equity value of $915 million.
As previously reported, AMIS shareholders will receive 1.15 shares of ON Semiconductor common stock for each share of AMIS common stock they own, or roughly $10.14 per share.
ON Semiconductor is a Phoenix-based designer, manufacturer and marketer of power and data management semiconductors and standard semiconductor components.
Based in Pocatello, Idaho, AMIS designs and manufactures mixed-signal semiconductor products. AMIS is the parent company of AMI Semiconductor.
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