News

ADI and LTC get Antitrust Clearances in the U.S. and Germany

October 20, 2016 by Jeff Shepard

Analog Devices, Inc. (ADI) and Linear Technology Corporation (LTC) today announced that on October 19, 2016 the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for the proposed combination of Analog Devices and Linear Technology expired. As a result, the transaction has been cleared for U.S. antitrust purposes. In addition, Analog Devices and Linear Technology received clearance for the transaction from the German Federal Cartel Office on October 11, 2016.

As announced in July, ADI and LTC entered into a definitive agreement under which Analog Devices will acquire Linear Technology in a cash and stock transaction that values the combined enterprise at approximately $30 billion. Upon completion of the acquisition, Analog Devices will be the premier global analog technology company with approximately$5 billion in anticipated annual revenues. The transaction values Linear Technology at approximately $60.00 per share, representing an equity value for Linear Technology of approximately$14.8 billion.

Analog Devices and Linear Technology currently expect the transaction to be completed during the first half of calendar year 2017, subject to receipt of the remaining required regulatory approvals and the satisfaction or waiver of the other conditions contained in the merger agreement. Linear Technology stockholders voted to approve the merger agreement at a meeting held on October 18, 2016.

0 Comments