Friday, April 9, 2010

Microchip Completes SST Buy

Chandler, Arizona-based Microchip Technology said late Thursday that it has completed its acquisition of Silicon Storage Technology. The firm said approximately 90.9 percent of the shares of SST were voted in favor of the merger agreement, and that as a result, SST's common stock ceased trading Thursday afternoon. The deal closed at $3.05 per share in cash, up from an initial $2.85 per share offer Microchip made in February.