DGAP-Adhoc: Infineon Technologies AG: Infineon Technologies

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Aug 20, 2014 at 12:15 PM

DGAP-Adhoc: Infineon Technologies AG: Infineon Technologies AG to Acquire International Rectifier Corporation for US-Dollar 40 per share, approximately US-Dollar 3 billion in cash

Infineon Technologies AG / Key word(s): Mergers & Acquisitions/Offer 20.08.2014 18:02 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Infineon Technologies AG to Acquire International Rectifier Corporation for US-Dollar 40 per share, approximately US-Dollar 3 billion in cash Infineon Technologies AG, Neubiberg/Germany, and International Rectifier Corporation, El Segundo/California, today announced that they have signed a definitive agreement under which Infineon will acquire International Rectifier for US-Dollar 40 per share in an all-cash transaction valued at approximately US-Dollar 3 billion. The International Rectifier Board of Directors has and Infineon's Supervisory Board have approved the transaction. The closing of the transaction is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as approval of International Rectifier stockholders. The transaction is expected to close late in the calendar year 2014 or early in the calendar year 2015 subject to regulatory approval. The acquisition is expected to be accretive to pro-forma earnings per share (EPS) already in the fiscal year of closing. Synergies are expected to drive significant accretion going forward, building on International Rectifier's existing successful operational restructuring. In the second full fiscal year of operation after closing, International Rectifier's margin contribution is expected to be at least in line with Infineon's target of 15 percent Segment Result margin over the cycle. As such, Infineon maintains its target of 15 percent average-cycle Segment Result margin. Under the terms and conditions of the agreement, Infineon will pay US-Dollar 40 per share in cash for all of International Rectifier's outstanding shares, representing a fully diluted enterprise value of approximately US-Dollar 2.4 billion. The transaction price represents a premium of approximately 48 percent over the average share price of International Rectifier during the last three months and a premium of approximately 51 percent over the closing share price of International Rectifier on August 19, 2014. Infineon will fund the transaction using cash-on-hand and fully underwritten credit facilities of Euro 1.5 billion in total. Upon closing of the transaction, Infineon's capital structure should stay well within the previously communicated targets of 30 to 40 percent gross cash-to-revenue, no more than 2x gross debt-to-EBITDA and a positive net cash position. *** This Ad Hoc release contains forward-looking statements about the business, financial condition and performance of the Infineon Group, as well as the proposed acquisition of International Rectifier by Infineon. These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business developments may therefore differ materially from what has been expected. Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements. 20.08.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Infineon Technologies AG Am Campeon 1-12 85579 Neubiberg Germany Phone: +49 (0)89 234-26655 Fax: +49 (0)89 234-955 2987 E-mail: investor.relations@infineon.com Internet: www.infineon.com ISIN: DE0006231004 WKN: 623100 Indices: DAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, Hannover, MÃ¼nchen, Stuttgart; TerminbÃ¶rse EUREX End of Announcement DGAP News-Service ---------------------------------------------------------------------------

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Endurance Energy's Modular Tech Revs Up Southeast Asia

Modular Solutions Steal the Show in Bangkok When a company draws 59,468 attendees from over 150 countries, folks pay attention—and that was exactly the scene at Gastech 2026 in Bangkok. The name buzzing on many lips? Endurance Energy. These guys showcased a fresh take on energy logistics with their skid-mounted liquefaction tech, turning heads with their Southeast Asia...

Farm Aid 2026: A Resilient Tribute to Family Farmers

Shining a Light on Essential Family Farmers Every year, thousands gather for Farm Aid to back the unsung heroes who put food on our plates. In 2026, the scene shifted to the amphitheater at Virginia Beach, where an epic lineup of music took stage not just to entertain but to underline a critical issue—family farmers are fighting for survival. These folks aren't merely...

AST SpaceMobile Faces Class Action Over Misstatements

What's Going On with AST SpaceMobile? Kicking off with a heavy hitter here, folks. AST SpaceMobile, Inc., trading under NASDAQ:ASTS, is under a securities fraud spotlight. We're talking allegations piled higher than a morning stack of pancakes. If you picked up any ASTS shares between March 4, 2025, and July 15, 2026, you're in on this rough ride. There's a class action...

Fuse Oncology Showcases New iRT Workflow at ASTRO

Revolutionizing Charge Capture in Oncology Fuse Oncology's latest showcase at the ASTRO 2026 Annual Meeting isn't just about flashy presentations—it's looking to change how radiation oncology departments handle complex workflows. If you've ever delved into the maze of oncology billing, you know it's rife with opportunities for errors and inefficiencies. Skip one charge,...

Timur Turlov Leads FIDE with Chess and Digital Focus

An Unpredicted Victory in Samarkand Well, color me surprised. Timur Turlov's made waves by clinching the role of FIDE President at the General Assembly in Samarkand. This one's quite the turn for the chess world—Kazakhstan’s own stepping up to run the whole show. This isn't just some ceremonial post either. Turlov, who's been pulling strings over at the Kazakhstan...

Cut Winter Heating Costs with Townsend's Rebate Help

Unseen Perils of Winter Heating in Massachusetts Massachusetts homeowners, listen up. If your heating system is older than the Model T, it's time to rethink your winter strategy. You don't want to be stuck in the cold when the thermometer hits single digits, do you? That's where Townsend comes in, making waves with their rebate assistance program. Navigating the Rebate...

China Southern Airlines Marks 70th Anniversary in NYC

Taking Flight with Legacy and Tradition Throwing a bash on Times Square isn't just about flash; it's about letting folks know you mean business. And China Southern Airlines has been doing just that for 70 years. Imagine starting from Guangzhou and ending up splashed across New York City's giant LED screens—talk about a journey! From Humble Roots to Global Network...

Leo Cancer Care's Upright Radiotherapy Milestone

Upright Radiotherapy: Breaking Tradition in Cancer Care Here's a twist in the world of cancer treatment folks weren't exactly expecting. Leo Cancer Care has flipped the script by taking radiotherapy from a concept to an actual clinical reality with their Upright Platform. Yes, we're talking about standing up while getting treated, and it's not just a gimmick—it's a game...

IASO's FUCASO Shows Robust Results in 2026 Study

IASO's Groundbreaking Results Stir Ripples in Oncology Folks, let me paint the picture here with the mighty, nitty-gritty details straight from the heart of China. The 2026 IMS Annual Meeting held a gem that could redefine how investors see the course of hematologic malignancy treatments. IASO Bio dropped some heavy data, showing their fine product, FUCASO, in a...

Synagro Technologies Faces Lawsuit Over Unpaid Expenses

Another Day, Another Lawsuit in Corporate America When it rains, it pours, especially in the corporate world where companies occasionally seem to forget they're playing with other people's livelihoods. Now, it's Synagro Technologies, Inc. facing the music. The company is under fire from Blumenthal Nordrehaug Bhowmik De Blouw LLP, a law firm well-versed in employee rights...