Fairchild Semiconductor International, Inc. (Nasdaq: FCS) has acknowledged receipt of a revised, unsolicited proposal to acquire all of the outstanding shares of common stock of Fairchild for USD 21.70 per share in cash.
Fairchild´s board of directors, in consultation with its legal and financial advisors, will review and consider the proposal.
As previously announced on November 18, 2015, Fairchild entered into an Agreement and Plan of Merger with ON Semiconductor Corporation, under which a wholly owned subsidiary of ON Semiconductor has agreed to acquire all of the outstanding shares of Fairchild common stock for USD 20.00 per share in cash.
Fairchild remains subject to the Merger Agreement and Fairchild´s board of directors has not changed its recommendation in support of the Merger Agreement.
Goldman, Sachs & Co is acting as financial adviser to Fairchild, and Wachtell, Lipton, Rosen & Katz is serving as its legal counsel.
Fairchild Semiconductor delivers energy-efficient, easy-to-use and value-added semiconductor solutions for power and mobile designs. We help our customers differentiate their products and solve difficult technical challenges with our expertise in power and signal path products.