Maxim Integrated extends tender offer for outstanding shares of Volterra
Maxim Integrated Products, Inc. has extended by one day the expiration date of the tender offer (the "Offer") by its wholly owned subsidiary, Victory Merger Sub, Inc. (the "Purchaser"), to purchase all of the outstanding shares of Volterra Semiconductor Corporation (Volterra) for a price of $23 per share in cash, without interest (less any applicable withholding taxes).
The Offer and withdrawal rights described in the offering documents have been extended and will now expire at 9:00 a.m., New York City time, on Tuesday, October 1st, 2013, unless the Offer is further extended.
The Offer had previously been scheduled to expire at 9:00 a.m., New York City time, on Monday, September 30, 2013. Computershare Inc., the depositary for the Offer, has indicated that as of 9:00 a.m., New York City time, on September 23rd, 2013, a total of 42,701 Volterra shares had been tendered, representing approximately 0.1367% of the outstanding shares of Volterra. No shares had been tendered by notice of guaranteed delivery.
The Offer was extended by the mutual agreement of Maxim, the Purchaser and Volterra to accommodate Maxim's desire to consummate the transaction in the second quarter of Maxim's fiscal year 2014.
Except for the extension of the Offer expiration date, all other terms and conditions of the Offer remain unchanged. Stockholders who have already tendered their shares of common stock of Volterra do not have to re-tender their shares or take any other action as a result of the extension of the expiration date of the Offer.
Maxim Integrated works is an innovator in analogue device technology.
Volterra Semiconductor Corporation, is a fabless semiconductor company headquartered in Fremont, Califormia. The firm designs, develops advanced silicon solutions for low-voltage power delivery and its product portfolio is focused on advanced switching regulators for the computer, datacom, storage, and portable markets.
