Deals
Conexant Systems Reports Takeover Bid From Golden Gate
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Conexant Systems Inc., a California-based maker of semiconductors, said Golden Gate Private Equity Inc. offered to buy it for $2.35 to $2.45 a share in cash.
Golden Gate’s offer values Conexant at as much as $311 million, including net debt, according to Bloomberg data. It represents a 30 percent premium to the company’s share price on Jan. 9, the day before Standard Microsystems Corp. said it agreed to acquire Conexant for $284 million, or $2.25 a share in cash and stock.