Wednesday, November 18, 2015

Fairchild Semiconductor Acquired By ON Semiconductor for $2.4 Billion

San Jose-based Fairchild Semiconductor, the storied developer of power semiconductors, has been acquired by ON Semiconductor in a deal worth $2.4 billion in cash, the two said this morning. ON Semiconductor said it would pay $20.00 per sshare for Fairchild, creating a company with a combined revenue of approximately $5 billion. ON Semiconductor said it was advised by Deutsche Bank, Morrison & Foerster, and BofA Merrill Lynch in the deal; Fairchild was advised by Goldman Sachs and Wachtell, Lipton, Rosen & Katz.