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May 29, 2014
08:04 EDTEXARExar completes integrated memory logic tender offer
Exar announced the successful completion of its tender offer to acquire the outstanding shares of Integrated Memory Logic Limited. As of the expiration date of the tender offer on May 29, a total of 68,319,091 shares were tendered, representing approximately 92% of iML's outstanding shares, exceeding the minimum tender condition of 51,964,096. The share consideration will be settled on or before June 6. By obtaining a controlling interest, Exar will begin consolidating iML financials. Pursuant to the terms and conditions of the merger agreement with iML, Exar will initiate procedures to acquire the remaining outstanding shares of iML in a second-step merger. After the merger closing, which is expected in the September quarter, iML will become a subsidiary of Exar, and iML stock will be delisted from and cease to be a publicly reported company on the Taiwan Stock Exchange.
News For EXAR From The Last 14 Days
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May 13, 2015
09:21 EDTEXARExar takeout possible at $12-$13 per share, says Cowen
Cowen noted Exar is exploring strategic alternatives and believes a company sale could result in the $12-$13 range. The firm also thinks Exar could decide to shed its data compression business and build analog/mixed signal scale. Cowen has an Outperform rating and $13 price target on Exar.

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