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Biz Break: Cypress, Spansion soar as merger gains support
2014-12-03 01:25:15| Electronics - Topix.net
Today: After announcing a $4 billion merger, Cypress Semiconductor and Spansion shares leap on Wall Street as analysts praise move. Also: Tesla Motors wins another Consumer Reports award.
Biz Break: Cypress, Spansion soar as merger gains support
2014-12-03 01:01:54| Semiconductors - Topix.net
Today: After announcing a $4 billion merger, Cypress Semiconductor and Spansion shares leap on Wall Street as analysts praise move. Also: Tesla Motors wins another Consumer Reports award.
Cypress, Spansion agree all-stock merger
2014-12-02 09:03:00| Telecompaper Headlines
(Telecompaper) Cypress Semiconductor and Spansion announced a definitive agreement to merge in an all-stock transaction valued at USD 4 billion. The post-merger company will generate more than USD 2 billion in revenue annually and create a leading global provider of microcontrollers and specialized memories for embedded systems. Under the terms of the agreement, Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own. The shareholders of each company will own approximately 50 percent of the post-merger company. The company will have an eight-person board of directors consisting of four Cypress directors, including T.J. Rodgers and Eric Benhamou, and four Spansion directors, including John Kispert and Ray Bingham, the Spansion chairman, who will serve as the non-executive chairman of the combined company. The group will be headquartered in California and called Cypress Semiconductor. The merger is expected to result in more than USD 135 million in cost synergies on an annualized basis within three years and to add to non-GAAP earnings within the first full year after closing. The combined company will continue to pay USD 0.11 per share in quarterly dividends to shareholders. Closing is subject to approval by Cypress and Spansion stockholders and review by regulators in the US, Germany and China. Cypress and Spansion expect the deal to close in the first half of 2015.
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merger
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spansion
Cypress Semiconductor buying Spansion for $1.59B
2014-12-01 23:52:08| IT Services - Topix.net
Chip maker Cypress Semiconductor is buying flash memory product maker Spansion in an all-stock deal worth $1.59 billion. Spansion stockholders will get 2.457 shares of Cypress stock for every Spansion share they own.
Tags: buying
semiconductor
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cypress semiconductor
Biz Break: Cypress Semiconductor buys Spansion in $4B Silicon Valley chip deal
2014-12-01 23:52:07| IT Services - Topix.net
Today: Two of Silicon Valley's largest chip companies, Cypress Semiconductor and Spansion, agree to merge in a $4 billion deal. Cypress Semiconductors and Spansion, two of the largest chip companies in Silicon Valley, announced Monday that they will merge in a $4 billion deal.