The shares accepted represent approximately 81.32 percent of PMC's outstanding shares of common stock. As previously announced, Microsemi will acquire the remaining outstanding shares of PMC's common stock through a merger of a wholly owned subsidiary of Microsemi with and into PMC, which Microsemi expects to complete prior to the opening of trading on Nasdaq on Microsemi Corporation offers a comprehensive portfolio of semiconductor and system solutions for communications, defense & security, aerospace and industrial markets.