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BRIEF-Maxlinear to acquire exar in all-cash transaction
March 29, 2017 / 10:09 AM / 6 months ago

BRIEF-Maxlinear to acquire exar in all-cash transaction

March 29 (Reuters) - Maxlinear Inc:

* Maxlinear to acquire Exar in all-cash transaction

* Maxlinear to acquire Exar in all-cash transaction

* Maxlinear inc - acquisition expected to be immediately accretive to non-GAAP eps and free cash flow

* Maxlinear Inc - Maxlinear and Exar reaffirm previously announced revenue guidance for current quarter

* Says Maxlinear has agreed to acquire Exar for $13.00 per share in cash

* Maxlinear Inc - deal for approximately $700 million

* Maxlinear Inc - deal’s total value is approximately $700 million, or $472 million net of exar’s cash acquired

* Maxlinear Inc - total value is approximately $700 million

* Maxlinear Inc - intends to fund transaction with cash from combined balance sheets and a $425 million term loan

* Maxlinear Inc - as a result of combination, Maxlinear expects to realize annualized run-rate synergies of $15 million within 12 months of closing

* Says transaction will be conducted by means of a tender offer

* Maxlinear Inc - Exar reaffirms fiscal Q4 2017 guidance

* Maxlinear - deal will be conducted by means of a tender offer for all of outstanding shares of common stock of exar, followed by a second-step merger

* Maxlinear Inc - boards of directors of both companies have unanimously approved transaction

* Maxlinear-Received support agreements from certain exar stockholders, directors, management totaling about 20pct of exar’s common shares outstanding for deal

* Maxlinear Inc - Maxlinear reaffirms calendar Q1 2017 guidance

* Q1 revenue view $88.1 million -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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