Taipei – Global law firm K&L Gates has advised Silicon Motion Technology Corporation, an Asia-based global leader in developing NAND flash controllers for solid state storage devices, on entering into a US$3.8 billion cross-border take-private acquisition with MaxLinear, Inc., a California-based leading provider of radio frequency, analog, digital, and mixed-signal integrated circuits.
Under the agreement, MaxLinear will acquire Silicon Motion in a cash and stock transaction that values the combined company at US$8 billion in enterprise value. In the merger, each American Depositary Share (ADS) of Silicon Motion will receive US$93.54 in cash and 0.388 shares of MaxLinear common stock, for total per ADS consideration of US$114.34 (based on MaxLinear’s 4 May 2022 closing price). The combination is projected to roughly double MaxLinear’s total addressable market opportunity and to create a top-ten fabless semiconductor company.
The K&L Gates multidisciplinary team advising Silicon Motion on this transaction was led by corporate and capital markets partners James Chen and Robert Matlin, who were assisted by partner Billy Chen, counsel Richard Hsu and associates Yoting Lin and Grace Ye. Partners Christopher Cunningham and Remsen Kinne provided U.S. securities law and corporate advice. Employment law advice was provided by partner Rikki Sapolich-Krol, with assistance from associate Cecilia Lee. Antitrust, regulatory and foreign direct investment advice was provided by...
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