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Vishay Completes Siliconix Merger Transaction
May 18, 2005 |Estimated reading time: Less than a minute
MALVERN, Pa. — Vishay Intertechnology, Inc. has effected a merger with Siliconix Inc., as a result of which Siliconix has become a wholly owned subsidiary of Vishay. In the merger, each share of Siliconix stock, other than the shares owned by Vishay and its subsidiaries, was converted into 3.075 Vishay shares, subject to the rights of Siliconix's remaining stockholders to seek appraisal under Delaware law. Cash was paid in lieu of Vishay fractional shares.The merger follows the successfully completed exchange offer of Vishay for a majority of the shares of Siliconix that it did not previously own. After the completion of the exchange offer, Vishay held 95.5% of the outstanding Siliconix shares. Vishay will issue a total of approximately 17,986,000 shares in connection with the exchange offer and subsequent merger.