LSI and Agere merge for $4bn

LSI Logic Corporation and Agere Systems have entered into a merger agreement under which the companies will be combined in an all-stock transaction worth approximately $4bn.
Under the terms of the agreement, Agere shareholders will receive 2.16 shares of LSI for each share of Agere they own. Based on the closing stock price of LSI on December 1, 2006, this represents a value to Agere shareholders of $22.81 per share.
According to a statement, the combined company, to be called LSI Logic Corporation, will offer a comprehensive set of building block solutions including semiconductors, systems and related software for storage, networking and consumer electronics products.
The companies operate in more than 20 countries, with a combined workforce of approximately 9,100 employees, including nearly 4,300 engineers. The companies own a substantial patent portfolio consisting of more than 10,000 issued and pending US patents.
The transaction is subject to the approval of shareholders from both companies as well as customary closing conditions and regulatory approvals. The companies expect the transaction to close in the first quarter of 2007.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Experts speculate over cause of Iberian power outages
I´m sure politicians will be thumping tables and demanding answers - while Professor Bell, as reported above, says ´wait for detailed professional...