September 26, 2011 / 8:01 PM / 9 years ago

Skyworks seeks right to end Advanced Analogic merger pact

(Follows alerts)

* Petition based on claims that AATI misrepresented facts even before agreement

* Skyworks shares down 4 percent

Sept 26 (Reuters) - Analog chipmaker Skyworks Solutions (SWKS.O), which was to buy Advanced Analogic Technologies Inc AATI.O, filed an arbitration petition seeking the right to end the merger agreement, a few days after AATI petitioned to close the deal.

Skyworks filed the petition in the Delaware Court of Chancery claiming misrepresentations by Advanced Analogic dating from before the agreement was signed to the present, a regulatory filing showed.

In May, Woburn, Massachusetts-based Skyworks agreed to buy Advanced Analogic for $258.6 million in cash and stock to expand its portfolio of analog chips for battery chargers and LED drivers used in consumer electronics. [ID:nL3E7GQ3J7]

Last week, Skyworks served a notice to the Santa Clara, California-based Advanced Analogic saying it breached the merger agreement related to access to senior executives and financial information. [ID:nL3E7KJ2D7]

Shares of Skyworks Solutions were trading down nearly 4 percent at $20.15 and Advanced Analogic were up 4 percent at $4.33 in afternoon trading on Nasdaq.

(Reporting by Rachana Khanzode in Bangalore; Editing by Sayantani Ghosh)

((rachana.khanzode@thomsonreuters.com; Within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: rachana.khanzode.thomsonreuters.com@reuters.net)) Keywords: ADVANCEDANALOGIC SKYWORKS/

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