Microchip Gets Antitrust Clearance

Chandler, Arizona-based Microchip, the developer of analog and microcontroller semiconductors, said last night that it has received antitrust clearance from the U.S., in connection with its deal to acquire Standard Microsystems Corporation (SMSC). The firms said they were granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The firm is still awaiting some clearances from foreign countries, but expects that the transaction will now close in the third calendar quarter of 2012. Microchip announced its acquisition of SMSC on May 2nd, in a deal worth $939M.