Microsemi (MSCC) announced that, on Nov. 22, Microsemi received notice from the Federal Trade Commission of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to its proposed acquisition of Symmetricom (SYMM) through its wholly-owned subsidiary, PETT Acquisition Corp. As previously announced, on Oct. 28, a wholly-owned subsidiary of Microsemi, PETT Acquisition Corp., commenced a cash tender offer to acquire all of the outstanding shares of Symmetricom's common stock for $7.18 per share. The expiration of the HSR Act waiting period satisfies one of the conditions of the tender offer. The completion of the tender offer remains subject to certain other conditions as described in the Tender Offer Statement on Schedule TO filed by Microsemi on Oct. 28, as amended.
- Mergers, Acquisitions & Takeovers
- Federal Trade Commission