AnalogicTech Files Petition to Initiate Arbitration Relating to Pending Acquisition by Skyworks

Advanced Analogic Technologies, Inc. announced that it has filed a Petition for Arbitration in the Delaware Chancery Court seeking specific performance of the company’s merger agreement with Skyworks Solutions, Inc. and to order Skyworks to close the transaction. AnalogicTech is seeking declaratory judgment from the Court that (1) AnalogicTech has not breached the merger agreement, (2) no "material adverse effect" has occurred with respect to AnalogicTech, and (3) Skyworks has breached its obligations under the merger agreement.

In accordance with the rules of arbitration in the Delaware Chancery Court, the petition is filed under seal and all proceedings will be confidential. As per the terms of the merger agreement, the AnalogicTech does not intend to comment or provide information regarding this matter until the arbitration process is concluded, unless required by law.