Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Z > Headlines for Zilog, Inc. > News item |
Zilog to respond to Ixys' $4.50-per-share offer by end of week
By Lisa Kerner
Charlotte, N.C., May 27 - Zilog, Inc. said it expects to publicly respond to Ixys Corp.'s offer to buy the company on or before Friday.
In a letter to Ixys, Zilog chief executive officer Darin Billerbeck said the company's board of directors will evaluate Ixys' offer in the context of the company's recently announced three-year strategic plan and other possible alternatives.
The letter was included in a form 8-K filing with the Securities and Exchange Commission.
Ixys offered to acquire all the outstanding shares of Zilog for $4.50 per share in cash and stock, it was previously reported.
Zilog, if acquired by the shareholder, would operate as a distinct business division in the Silicon Valley, Ixys said.
When Ixys made the offer on May 16, it requested that Zilog respond by May 27.
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.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.