Big news, ANADIGICS Announces That a Competing
Post# of 23116

ANADIGICS Announces That a Competing Bidder Has Made an Unsolicited Further Amended Offer to Acquire the Company at a Price of $0.76 Per Share
6 minutes ago - DJNF
ANADIGICS Announces That a Competing Bidder Has Made an Unsolicited Further Amended Offer to Acquire the Company at a Price of $0.76 Per Share
WARREN, N.J., Jan. 25, 2016 (GLOBE NEWSWIRE) -- ANADIGICS, Inc. (Nasdaq:ANAD) ("ANADIGICS" or the "Company"



Although the January 21, 2016 Party B Proposed Merger Agreement does not presently contain all of the material provisions that the Company's Board of Directors believes are necessary to protect the Company and its stockholders, as discussed in the Company's January 19, 2016 announcement, the Board of Directors, after consultation with its financial and legal advisors, has determined in good faith that the January 21, 2016 Party B Proposed Merger Agreement constitutes an "Acquisition Proposal" that could reasonably be expected to lead to a "Superior Offer," as those terms are defined in the previously announced January 15, 2016 agreement and plan of merger pursuant to which an affiliate of II-VI Incorporated ("II-VI"


In accordance with the terms of the II-VI Merger Agreement, the Company has notified II-VI of the January 21, 2016 Party B Proposed Merger Agreement and the determination by the Company's Board of Directors that said Acquisition Proposal could reasonably be expected to lead to a "Superior Offer," as that term is defined in the II-VI Merger Agreement.
Notice to Investors
The tender offer for the outstanding shares of common stock of ANADIGICS described in this communication has not yet commenced. This communication is for informational purposes only and is not an offer to purchase any shares of ANADIGICS or a solicitation of an offer to sell securities. At the time the tender offer is commenced, II-VI will file a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, with the Securities and Exchange Commission ("SEC"

About ANADIGICS, Inc.
ANADIGICS, Inc. (NASDAQ:ANAD) ("ANADIGICS" or the "Company"

Safe Harbor Statement
Except for historical information contained herein, this press release contains projections and other forward-looking statements (as that term is defined in the Securities Exchange Act of 1934, as amended). These projections and forward-looking statements reflect the Company's current views with respect to future events and financial performance and can generally be identified as such because the context of the statement will include words such as "believe", "anticipate", "expect", "goal," "objective," "plan" or words of similar import. Similarly, statements that describe our future plans, objectives, estimates or goals are forward-looking statements. No assurances can be given, however, that these events will occur or that these projections will be achieved and actual results and developments could differ materially from those projected as a result of certain factors. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause results to differ materially from those expressed or implied by such forward-looking statements. Further, all statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements, except as may be required by law. Important factors that could cause actual results and developments to be materially different from those expressed or implied by such projections and forward-looking statements include those factors detailed from time to time in our reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2014, and those discussed elsewhere herein.
Investor Relations
Terrence Gallagher
Executive Vice President and CFO
ANADIGICS, Inc.
141 Mt. Bethel Road
Warren, NJ 07059
Tel: +1 908 668-5000
E-mail: tgallagher@anadigics.com
(MORE TO FOLLOW) Dow Jones Newswires
January 25, 2016 08:00 ET (13:00 GMT)


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