Atmel receives unsolicited superior proposal and terminates definitive agreement to be acquired by Dialog for $4.6 billion
Client(s) Atmel Corporation
Jones Day represented Atmel Corporation in connection with its definitive agreement to be acquired by UK-based Dialog Semiconductor plc in a cash and stock transaction for $4.6 billion. Atmel subsequently received an unsolicited superior acquisition proposal and terminated the definitive agreement with Dialog, according to its terms. The merger with Dialog was expected to create a global leader in power management and embedded processing solutions. The transaction would have combined two successful and complementary companies into a fast-growing and innovative powerhouse, supporting mobile power, loT, and automotive customers.
In addition to M&A representation, Jones Day provided tax, intellectual property, employee benefits and executive compensation, antitrust, and government regulation advice regarding this transaction.