Key Developments For Intellon Corporation
Intellon Corporation (ITLN.O) (Consolidated Issue listed on NASDAQ Global Market)
Atheros Communications, Inc. Announces HSR Clearance For Its Planned Acquisition of Intellon Corporation
Atheros Communications, Inc. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) for Atheros' planned acquisition of Intellon Corporation expired on October 26, 2009. Accordingly, the condition that any waiting period or clearance, consent or approval under the HSR Act shall have expired, been terminated or be obtained has been satisfied. Atheros continues to expect that this transaction will close during the fourth fiscal quarter of 2009.
Entropic Communications Inc. And Intellon Corporation Announces Collaboration On Home Network Solutions Using Coaxial Cable And Carrier Current
Entropic Communications Inc. has announced the collaboration with Intellon Corporation to accelerate the availability of home network solutions combining the coaxial cable and carrier current. The regrouping of solution capacities of multimedia on coaxial cable (MoCA) and HomePlug AV (HPAV) will continue to improve the connected home entertainment experience for the clients.
ST&T Electric Corporation Selects Intellon Corporation's HomePlug AV-Based INT6400 For HD Media Link System
Intellon Corporation announced that ST&T Electric Corporation, a Taiwan based broadband solution provider, has integrated Intellon's newest HomePlug AV chipset, the INT6400, into its new HD Media Link System (Model HDAV 6490). The system moves HD video from source devices to TVs throughout a home using the existing electrical wiring.
Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Intellon Corporation
Law Offices of Howard G. Smith announced that it is investigating potential claims against the Board of Directors of Intellon Corporation related to the Company's agreement to be acquired by Atheros Communications, Inc., in a stock and cash deal valued at approximately $244 million. Under the terms of a definitive agreement entered into by the parties, the overall acquisition consideration consists of Atheros common stock and equivalents (including the assumption of outstanding Intellon restricted stock units and stock options) representing between 45% and 55% of the total consideration, with the remainder paid in cash, providing an overall value of approximately $7.30 per share, based on the five day average closing price of Atheros as of September 4, 2009. For each share of Intellon common stock, Intellon shareholders may elect to receive either: (i) approximately 0.135 shares of Atheros common stock and approximately $3.60 in cash; (ii) $7.30 in cash; or (iii) approximately 0.267 shares of Atheros common stock. Each of these elections will be subject to adjustment and proration provisions further detailed in the definitive agreement. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to approval of the acquisition by the Intellon Board of Directors.
Atheros Communications, Inc. To Acquire Intellon Corporation
Atheros Communications, Inc. and Intellon Corporation announced that they have entered into a definitive agreement for Atheros to acquire Intellon in a stock and cash transaction valued at approximately $244 million, or $181 million net of Intellon's cash, cash equivalents and short-term investments as of June 30, 2009.
