ON Semiconductor now all set to buy Fairchild Semiconductor

ON Semiconductor extends it prior announced tender offer to buy the rest of the shares of common stock of Fairchild Semiconductor International for $20.00 per share in cash.

With other Terms and conditions being steady, Computershare Trust Company, N.A., the depositary for the Offer, has advised ON Semiconductor that as of the close of business, New York City time on July 21, 2016, approximately 60,947,806 shares of common stock of Fairchild (not including 6,336,913 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 53.1% of the outstanding shares of common stock of Fairchild.

An official release assets that the buyout announcement made on November 18, 2015 between the companies will now expire one minute following 11:59 p.m., New York City time, on August 4, 2016, unless further extended as required or permitted by the merger agreement.