Microchip Technology Announces MOFCOM Review of Its Acquisition of Microsemi Under Simplified Proced

Microchip Technology Incorporated, a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, today announced, that its notification to China’s Ministry of Commerce (“MOFCOM”) pursuant to Article 23 of China’s Antimonopoly Law in connection with its pending acquisition of Microsemi Corporation (NASDAQ:MSCC), requesting review under MOFCOM’s Simplified Procedure, was accepted for review by MOFCOM on April 19, 2018. The completion of the merger is still subject to obtaining antitrust clearances from MOFCOM, the Japan Fair Trade Commission, Taiwan Fair Trade Commission, Philippine Competition Commission, German Federal Cartel Office and Federal Competition Authority in Austria, each of which continues to review the transaction. Completion of the merger also remains subject to certain other closing conditions, including approval by Microsemi stockholders. The special meeting of Microsemi stockholders to consider approval of the transaction is scheduled to be held on May 22, 2018. Assuming the timely receipt of the aforementioned regulatory approvals and the satisfaction of the other closing conditions, Microchip anticipates that the merger will be completed in June 2018.