Spreadtrum Communications to hold “going private” meeting
From Financial News.co.uk
Chinese communications semiconductor maker Spreadtrum Communications Inc (NASDAQ: SPRD) said that it has called an extraordinary general meeting of shareholders to be held on September 4 to consider and vote upon a proposal to approve and authorise an agreement and plan of merger dated as of July 12 2013.
The agreement was struck by and among Tsinghua Unigroup Ltd, acompany established under the laws of the People´s Republic of China, Spreadtrum acquisition Ltd, an exempted company incorporated under the laws of the Cayman Islands and a wholly owned, indirect, subsidiary of parent and the company.
Under the deal, the merger sub will be merged with and into the company with the company surviving as a wholly owned subsidiary of parent, and to approve and authorize the plan of merger required to be filed with the Registrar of Companies in the Cayman Islands in order to give effect to the merger.
If completed, the merger would result in the company becoming a privately-held company and its shares would no longer be listed on the NASDAQ Global Market.
The company said that its board of directors has determined that the merger is advisable and fair to, and in the best interests of the company and our shareholders and has approved and declared advisable the merger agreement and the transactions contemplated by the merger agreement, including the merger, and unanimously recommends that the company´s shareholders vote to approve and authorize the merger agreement, the plan of merger, and the transactions contemplated by the merger agreement, including the merger.
Spreadtrum Communications is a fabless semiconductor company that develops mobile chipset platforms for smartphones, feature phones, and other consumer electronics products, supporting 2G, 3G, and 4G wireless communications standards.
Find out more at www.spreadtrum.com
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