News Column

*Wolfson Microelectronics Shares To Be Suspended Due To Cirrus Deal

August 8, 2014

Anthony Tshibangu

LONDON (Alliance News) - Chip-maker Wolfson Microelectronics PLC Friday said it has made a request for its shares to be suspended from August 20, as US-based Cirrus Logic Inc moves forward with its acquisition of Wolfson.

In April, Wolfson recommended that its shareholders vote in favour of an acquisition offer from Cirrus Logic that values the company at GBP291 million. Cirrus Logic offered to acquire Wolfson at 235 pence per share in cash.

Wolfson shares closed up 0.2% at 231.75 pence Friday.

The acquisition remains subject to a number of conditions, including the court sanctioning the scheme at a sanction hearing on August 19.

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Source: Alliance News

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