Microchip Technology And Supertex Announce The


The following excerpt is from the company's SEC filing.

CHANDLER, Arizona and SUNNYVALE, California – April 1, 2014 – Microchip Technology Incorporated (NASDAQ: MCHP) (“Microchip”) and Supertex, Inc. (NASDAQ: SUPX) (“Supertex) today announced that Microchip has completed its previously announced acquisition of Supertex following approval of the transaction by Supertex shareholders at Supertex’s special meeting of shareholders held today.

Approximately 98.4 percent of the Supertex shares voted were voted in favor of the acquisition transaction, under which Supertex shareholders will receive $33.00 per share in cash. Overall, approximately 87.7% of the total outst anding Supertex shares were voted. Therefore, approximately 86.43% of the total Supertex shares were voted in favor of the acquisition transaction.

“We are very pleased to have completed our acquisition of Supertex,” said Steve Sanghi, President and CEO of Microchip. “I welcome the Supertex employees into the Microchip family and look forward to building a combined organization that will bring the capabilities of both organizations to bear in the marketplace.”

As a result of the completion of the transaction, trading in Supertex common stock on the NASDAQ will cease effective after the close of market today.

Microchip will share more information regarding the Supertex transaction during its Q4 and FY2014 financial results conference call scheduled for Tuesday, May 6, 2014.

Stockholders of Microchip and Supertex are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date such statements are made. Neither Microchip nor Supertex undertakes any obligation to publicly update any forward-looking statements to reflect events, circumstances or new information after this April 1, 2014 press release, or to reflect the occurrence of unanticipated events.

Microchip Technology Inc. (NASDAQ: MCHP) is a leading provider of microcontroller, analog and Flash-IP solutions, providing low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at http://www.microchip.com.

Supertex, Inc. is a mixed-signal semiconductor manufacturer, focused on high voltage analog and mixed signal products for use in the medical, LED lighting, display, industrial and telecommunication industries. Supertex product, corporate and financial information is readily available at www.supertex.com.

Note: The Microchip name and logo are registered trademarks of Microchip Technology Inc. in the USA and other countries. Supertex is a registered trademarks of Supertex, Inc. All other trademarks mentioned herein are the property of their respective companies.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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