Maxim Integrated Products Inc. (Sunnyvale, CA) announced that it has completed its acquisition of Dallas Semiconductor Corp. (Dallas, TX) upon receiving the approval of Dallas Semiconductor's stockholders.
The acquisition of Dallas Semiconductor was effected by the merger of a Maxim subsidiary into Dallas Semiconductor. Under the terms of the merger agreement, each share of Dallas Semiconductor common stock was converted into 0.6515 share of Maxim common stock, and each outstanding stock option at Dallas Semiconductor was assumed by Maxim in the merger. As a result of this transaction, Dallas Semiconductor's common stock will no longer be listed on the New York Stock Exchange and has ceased trading.
Jack Gifford, president, CEO and chairman of Maxim, commented, “We are comfortable that Dallas Semiconductor will contribute to Maxim's growth in the coming years. Our corporation now has a major presence in Texas and mid-America, which is geographically strategic to our technical and manufacturing growth."