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Stock Market & Financial Investment News

News Breaks
July 17, 2014
16:32 EDTVSHVishay: Capella Microsystems board recommends shareholders tender shares
Vishay Intertechnology announced that the board of Taiwan-based Capella Microsystems, which Vishay intends to acquire, has determined that the price per share offered by Vishay in a tender offer is reasonable and has recommended that shareholders of Capella tender their shares. A special offer review committee of Capella separately has made the same determination and recommendation. On July 11, Vishay entered into an agreement to acquire Capella for approximately NT$6,051M or US$205M. Vishay intends to acquire Capella first through a tender offer of up to 100 percent of Capella’s outstanding shares at a price of NT$139 per share. The tender offer is conditioned upon at least a majority of the outstanding shares being tendered. The period to tender outstanding shares ends on September 1, but could be extended pursuant to local regulations. If a majority of the outstanding shares are tendered and the government approvals are obtained, the tender offer is expected to close in September 2014 followed by Vishay’s acquisition of 100% of Capella in a merger by the end of January 2015. In 2013, Capella had revenues of NT$1,873M or approximately US$63 million achieving gross margins in the high 40%s and EBITDA of approximately US$19M; cash and cash equivalents were approximately US$60M without any long-term debt.
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July 29, 2014
07:34 EDTVSHVishay sees Q3 revenues $630M-$670M, consensus $650.93M
In regards to its Q3 outlook, the company said, “We guide for revenues of $630M-$670M at gross margins in line with this volume. If the Capella tender offer is completed during the quarter, we will provide some additional guidance regarding the impact of its inclusion in our consolidated results.”
07:33 EDTVSHVishay reports Q2 adjusted EPS 27c, consensus 25c
Reports Q2 revenue $641.9M, consensus $644.50M.
July 17, 2014
16:32 EDTVSHVishay: Capella Microsystems board recommends shareholders tender shares
Vishay Intertechnology announced that the board of Taiwan-based Capella Microsystems, which Vishay intends to acquire, has determined that the price per share offered by Vishay in a tender offer is reasonable and has recommended that shareholders of Capella tender their shares. A special offer review committee of Capella separately has made the same determination and recommendation. On July 11, Vishay entered into an agreement to acquire Capella for approximately NT$6,051M or US$205M. Vishay intends to acquire Capella first through a tender offer of up to 100 percent of Capella’s outstanding shares at a price of NT$139 per share. The tender offer is conditioned upon at least a majority of the outstanding shares being tendered. The period to tender outstanding shares ends on September 1, but could be extended pursuant to local regulations. If a majority of the outstanding shares are tendered and the government approvals are obtained, the tender offer is expected to close in September 2014 followed by Vishay’s acquisition of 100% of Capella in a merger by the end of January 2015. In 2013, Capella had revenues of NT$1,873M or approximately US$63 million achieving gross margins in the high 40%s and EBITDA of approximately US$19M; cash and cash equivalents were approximately US$60M without any long-term debt.

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