Key Developments: International Rectifier Corp (IRF.N)

IRF.N on New York Stock Exchange

39.40USD
29 Aug 2014
Price Change (% chg)

$0.08 (+0.20%)
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$39.32
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Latest Key Developments (Source: Significant Developments)

Infineon Technologies AG to acquire International Rectifier Corporation for $40 per share, about $3 bln in cash
Wednesday, 20 Aug 2014 12:06pm EDT 

Infineon Technologies AG and International Rectifier Corporation:Announce that they have signed a definitive agreement under which Infineon will acquire International Rectifier for $40 per share in an all-cash transaction valued at about $3 billion.Transaction is expected to close late in the calendar year 2014 or early in the calendar year 2015.Under the terms and conditions of the agreement, Infineon will pay $40 per share in cash for all of International Rectifier's outstanding shares, representing a fully diluted enterprise value of about $2.4 billion.Infineon will fund the transaction using cash-on-hand and fully underwritten credit facilities of 1.5 billion euros in total.Says 1.5 billion euros of credit facilities for Infineon have been fully underwritten by Bank of America Merrill Lynch International Limited and Citigroup Global Markets Limited, who are also acting as financial advisors to Infineon.JPMorgan is acting as exclusive financial advisor to International Rectifier.Kirkland & Ellis and Freshfields Bruckhaus Deringer are acting as counsel for Infineon whilst Fried, Frank, Harris, Shriver & Jacobson is acting as counsel for International Rectifier.  Full Article

International Rectifier Corp gives Q4 2014 revenue outlook in line with analysts' estimates
Wednesday, 30 Apr 2014 04:01pm EDT 

International Rectifier Corp:Expects Q4 2014 revenue to range between $280-$295 mln.Q4 2014 revenue of $283 mln - Thomson Reuters I/B/E/S.  Full Article

International Rectifier Corp issues Q3 2014 revenue guidance below analysts' estimates
Wednesday, 29 Jan 2014 04:01pm EST 

International Rectifier Corp:Expects Q3 2014 revenue to be in the range of $265 mln to $275 mln.Q3 2014 revenue of $298 mln - Thomson Reuters I/B/E/S.  Full Article

International Rectifier Corp Issues Q2 2014 Revenue Guidance In Line With Analysts' Estimates
Wednesday, 30 Oct 2013 04:01pm EDT 

International Rectifier Corp announced that for second quarter of 2014, it expects revenue to be in the range of $260 million to $270 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $260 million for second quarter of 2014.  Full Article

International Rectifier Corp Issues Q1 2014 Revenue Guidance In Line With Analysts' Estimates
Monday, 19 Aug 2013 04:01pm EDT 

International Rectifier Corp announced that for the first quarter of 2014, it expects revenue to range between $260 million to $268 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $260 million for the first quarter of 2014.  Full Article

International Rectifier Corp And TowerJazz Enter Into Multi-Year Production Agreement Through 2020
Monday, 15 Jul 2013 04:30am EDT 

International Rectifier Corp and TowerJazz announced that it has entered into a seven-year agreement under the terms of which TowerJazz will manufacture multiple product families for IR. IR chose to extend relationship with TowerJazz due to a history of success in working with TowerJazz's TOPS (Transfer Optimization and Process Services) business unit; a group with engineering proficiency and models to enable Integrated Device Manufacturers (IDMs) the shortest qualification time and time-to-market for moving their manufacturing into high volume foundries.  Full Article

International Rectifier Corp Issues Q4 2013 Revenue Guidance Above Analysts' Estimates
Monday, 29 Apr 2013 04:01pm EDT 

International Rectifier Corp announced that for the fourth quarter of 2013, it expects revenue in the range of $255 million to $265 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $252 million for the fourth quarter of 2013.  Full Article

International Rectifier Corp Issues Q1 2013 Revenue Guidance In Line With Analysts' Estimates
Monday, 28 Jan 2013 04:01pm EST 

International Rectifier Corp announced that for the third quarter of 2013, it currently expects revenue to range from $220 million to $235 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $230 million for the third quarter of 2013.  Full Article

International Rectifier Corp Issues Q2 2013 Revenue Guidance Below Analysts' Estimates
Thursday, 1 Nov 2012 04:01pm EDT 

International Rectifier announced that for second quarter of 2013, it expects revenue to range from $215-$230 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $246 million for second quarter of 2013.  Full Article

International Rectifier Corp Enters Into $100 Million Senior Unsecured Credit Facility
Thursday, 25 Oct 2012 09:01am EDT 

International Rectifier Corp announced that it has entered into a four-year senior unsecured credit facility with a group of lenders led by Wells Fargo Bank, National Association, and also includes JP Morgan Chase Bank NA, HSBC Bank USA, National Association and Bank of the West. The facility enables the Company to borrow up to $100 million on a revolving basis at an interest rate of LIBOR plus 1.25% for working capital, acquisitions, stock repurchases and other general corporate purposes. There is a commitment fee payable of 0.25% annually on undrawn amounts in the facility. The credit facility contains customary affirmative, negative and financial covenants, and conditions. The Company intends to provide additional information regarding the credit facility in the Company‚Äôs future reports to be filed with the Securities and Exchange Commission.  Full Article

UPDATE 1-Infineon denies paying too much for International Rectifier

* Shares in Infineon down 0.3 percent (Recasts, adds analyst, CFO comments, share price)

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