RF Micro to acquire Sirenza Microdevices
GREENSBORO -- RF Micro Devices Inc. said today it will acquire Sirenza Microdevices, a supplier of radio frequency components.
Under the terms of the agreement, each outstanding share of Sirenza's common stock will be exchanged for a combination of 1.7848 shares of RF Micro common stock and $5.56 in cash. Based on the closing stock price on Friday, the consideration is valued at $16.64 per share, an offer value of about $900 million comprised of $300 million in cash with the balance in stock.
The deal is expected to be complete by the end of December and is subject to approval by the stockholders of both companies as well as regulatory approval, according to a news release.
Sirenza is based in Broomfield, Colo., with operations in China, Germany and the U.S.
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