Genesis Microchip Agrees to Merge with Pixelworks
Genesis Microchip (GNSS ) and Pixelworks (PXLW ) agreed to merge in deal valued at about $600 million. Terms call for Genesis shareholders to receive 2.3366 Pixelworks shares per Genesis share. The new company will be called Genesis Pixelworks. Current Pixelworks shareholders will own 37.5% of the new company, while Genesis shareholders will own 62.5%. (3/17)
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