Will Actel preserve its identity?
October 5, 2010
Some were predicting that John East’s retirement last month might mean big changes for Actel Corp., but the acquisition offer made by Microsemi Corp. Oct. 4 has many analysts concerned. The offer of $20.88 per share (approximately $430 million in cash) represents a 30 percent premium over recent share prices. (Microsemi turned to Morgan Stanley Senior Funding Inc. to close the deal.) Microsemi has a solid reputation in specialized mixed-signal ICs for power-management and RF signal conditioning – including special silicon-carbide devices for the military-aerospace markets Actel has been pursuing.
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