Tuesday, March 18, 2008

Spansion Closes Saifun Acquisition

Spansion and Saifun Semiconductors said today that the firms have completed Spansion's acquisition of Saifun today. The deal, which was originally announced in October of last year, combines Spansion's non volatile memory technology with Spansion's Flash memory business. The deal was worth approximately $368M in stock and cash when it was announced. Spansion was advised by Citigroup Global Markets and O'Melvany & Myers. Yigal Aron & Co. also acted as special Israeli counsel to the firm. Saifun was represented by Lehman Brothers, MOrrison & Foerster, and Eitan-Mehulal Law Group as special Israeli counsel.