ON Semiconductor (ONNN) Completes Acquisition of Catalyst Semiconductor
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ON Semiconductor Corporation (NASDAQ: ONNN) announced today that it has, effective today, completed its acquisition of Catalyst Semiconductor, Inc. (NASDAQ: CATS), in a stock-for-stock merger.
Under the terms of the merger agreement, Catalyst stockholders have generally received 0.706 shares of ON Semiconductor common stock for each share of Catalyst common stock they own. ON Semiconductor issued approximately 11 million shares for the outstanding shares of Catalyst Semiconductor. The company also assumed Catalyst Semiconductor stock-based compensation awards that will result in an additional increase of approximately 2 million shares of ON Semiconductor common stock equivalents on a diluted basis.
ON Semiconductor Corporation engages in the design, manufacture, and marketing of power and data management semiconductors, and standard semiconductor components worldwide.
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