Wednesday, August 13, 2008

Jazz Technologies Merger On Track, Says Firm

Newport Beach-based Jazz Technologies and Israeli firm Tower Semiconductor Ltd. said today that the two firms' merger is expected to close in September. The firms said in May that they would merge in a deal worth $169M, with Tower Semiconductor acquiring Jazz Technologies in a stock-for-stock acquisition. Jazz Technologies said that the acquisition will come up for a stockholder vote on September 17. Jazz, which manufactures analog and mixed signal semiconductors, had been looking for a buyer since February of this year.

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