8 December 2015

Anadigics receives alternative acquisition proposals following GaAs Labs deal

After agreeing on 11 November to be acquired by affiliates of GaAs Labs LLC for $0.35 per share through an all-cash tender offer (worth $32m in total), broadband wireless and wireline communications component maker Anadigics Inc of Warren, NJ, USA has announced the expiration on 6 December of the ‘go-shop period’, during which it was permitted to solicit alternative acquisition proposals from third parties.

Anadigics says that this has resulted in the receipt of acquisition proposals that the board of directors has determined are likely to lead to an offer superior to that reflected in the GaAs Labs agreement. Anadigics will therefore continue to negotiate with each of these parties.

Anadigics has the right to terminate the GaAs Labs agreement in order to accept a superior offer. However, it adds that there can be no assurance that any of the acquisition proposals received during the go-shop period will lead ultimately to a superior offer.

See related items:

Anadigics agrees to be acquired by GaAs Labs for $32m

Tags: Anadigics Gaas Labs

Visit: www.anadigics.com

Visit: www.gaaslabs.net