Universal Electronics extends offer deadline for Zilog

By Lisa Kerner

Charlotte, N.C., Jan. 22 - Universal Electronics, Inc. agreed to extend the expiration of its proposal to acquire Zilog, Inc. to Jan. 29, according to a schedule 13D filing with the Securities and Exchange Commission.

It was previously reported that the offer was to expire 10 days after Jan. 11.

Zilog announced receipt of the unsolicited acquisition proposal from Universal Electronics on Jan. 18. Riley Investment Management LLC, a 6.2% shareholder, is the financing partner in the deal.

The company is considering alternatives with the assistance of LRG Capital Corporate Advisory Group, LLC.

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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