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GigOptix Inc proposes to acquire GSI Technology for $6.50 per share

Tuesday, 19 Aug 2014 09:00am EDT 

GigOptix Inc:Announced that it is proposing to acquire all of the outstanding shares of GSI Technology Inc.For per share consideration of $6.50, consisting of $2.00 per share in cash, GigOptix common stock worth $1.33 based upon the volume-weighted average price of GigOptix's common stock for the three trading days ending one day prior to the closing of the combination and.a special dividend of $3.17 per share in cash payable by GSI Technology.Offer has a combined value of about $6.50 in the aggregate and represents about a 32 pct premium above the closing price of GSI Technology common stock on Aug. 18.Crowell & Moring LLP is acting as legal counsel to GigOptix and Opus Bank is acting as financial advisors. 

Company Quote

-0.04 -3.36%
2:40pm EDT