Golden Gate Secures Conexant Deal
February 25, 2011- Share:
Golden Gate Capital has entered into a definitive agreement to take Conexant Systems (NASDAQ: CNXT) private for $2.40 in cash per share of common stock, putting the total deal value at a reported $196 million. Early last month, Conexant entered into a definitive agreement to be acquired by Standard Microsystems (NASDAQ: SMSC), but Standard Microsystems declined to increase its offer for the company above $2.25 per share in response to Golden Gate's proposal. Consequently, the previous agreement was terminated. Conexant provides semiconductor solutions.
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