Stockholders Vote in Favor of ON Semiconductor's (ONNN) Acquisition of AMIS Holdings (AMIS)
ON Semiconductor Corporation (NASDAQ: ONNN) and AMIS Holdings, Inc. (NASDAQ: AMIS) announced that stockholders of each company have voted in favor of ON Semiconductor’s proposed acquisition of AMIS in a stock-for-stock merger at their respective special stockholders meetings held today. For both companies, in excess of a majority of the shares outstanding were cast in favor of the proposals relating to the merger. Over 90% of the shares voted in both companies were voted FOR the merger.
Under the terms of the merger agreement, holders of AMIS common stock will generally receive 1.15 shares of ON Semiconductor common stock for each share of AMIS common stock they own at the closing of the merger. The transaction is expected to close on Monday, March 17, 2008, subject to the satisfaction of customary closing conditions.[SM]
Under the terms of the merger agreement, holders of AMIS common stock will generally receive 1.15 shares of ON Semiconductor common stock for each share of AMIS common stock they own at the closing of the merger. The transaction is expected to close on Monday, March 17, 2008, subject to the satisfaction of customary closing conditions.[SM]
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