RF chip manufacturer RF will buy TriQuint 1.6 billion dollars

Sina Science and technology news Beijing time February 24, RF chip manufacturer RF Micro Devices INC (NASDAQ:RFMD) announced in Monday, will be through a full stock trading at about 1.6 billion U.S. dollars to buy rival TriQuint Semiconductor Company (TQNT), The merged company will have more than 2 billion dollars in revenue. Driven by the news, TriQuint shares surged 29% per cent to $11.9 in Monday, exceeding the RF 9.73-dollar offer price. According to the terms of the deal, TriQuint will be able to get 1.675 shares of the merged company. RF shareholders in the hands of each share will get the new company's 1 shares. The shareholders of the two companies will each hold about 50% per cent of the merged company. RF Micro said the deal is expected to be completed in the second half of this year and will help improve the company's profitability after the first full fiscal year after completion. TriQuint CEO Ralph Quinsey will be the non-executive chairman of the new company's board of directors, and RF chief Executive Bob Bruggeworth as CEO of the new company. (Feather arrow)