Germany, China approve LSI buying Agere |
|
|
|
Published
:
Wed, 21 Mar 2007 17:31
|
WASHINGTON (AP) - Data storage chip developer LSI Logic Corp. said Wednesday its $4 billion acquisition of rival Agere Systems Inc. cleared final regulatory hurdles with government officials in Germany and China.The companies received the go-ahead from the German Federal Cartel Office in February and the waiting period for the merger required by China's ministry of commerce expired earlier this month, according to a Securities and Exchange Commission filing.The filing also discloses that Agere has picked three directors to serve on the board of the combined company, following completion of the buyout. LSI will have six directors on the board.Shares of Agere Systems Inc. fell 10 cents Wednesday to $21.79 in midday trading while LSI Logic Corp. dipped 3 cents to $10.12, both on the New York Stock Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Agere swings to 1Q profit 