Needham & Company Downgrades Silicon Image (SIMG) to Hold Amid Takeover
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Lattice Semiconductor (LSCC) to Acquire Silicon Image (SIMG) for $7.30/Share
January 27, 2015 6:25 AM ESTLattice Semiconductor Corporation (NASDAQ: LSCC) and Silicon Image, Inc. (NASDAQ: SIMG) announced that they have signed a definitive agreement, pursuant to which Lattice will acquire Silicon Image in an all-cash tender offer of $7.30 per share, representing an equity value of approximately $600 million (or approximately $450 million on an enterprise value basis) and a 34.6% premium to the average closing price over the last 90 trading days and a 23.7% premium to the closing price on January 26th.
Key Benefits of the Transaction
Increased Strategic Relevance for CustomersAllows combined... More