Linear Technology to Be Acquired by Analog Devices for $14.8 Billion
On July 26, 2016, Analog Devices and Linear Technology announced that they have entered into a definitive agreement under which Analog Devices will acquire Linear Technology in a cash and stock transaction that values the combined enterprise at approximately $30 billion. Wilson Sonsini Goodrich & Rosati is part of the team representing Linear Technology in the transaction. The firm has a longstanding relationship with Linear Technology, having represented the company since its inception 35 years ago.
Under terms of the agreement, Linear Technology shareholders will receive $46.00 per share in cash and 0.2321 of a share of Analog Devices common stock for each share of Linear Technology common stock they hold at the closing of the transaction. The transaction values Linear Technology at approximately $60.00 per share, representing an equity value for the company of approximately $14.8 billion.
The transaction has been unanimously approved by the companies' boards of directors and is expected to close by the end of the first half of calendar year 2017, subject to regulatory approvals in various jurisdictions, the approval of Linear Technology's shareholders, and other customary closing conditions.
The WSGR team representing Linear Technology in the transaction includes partners Herb Fockler, Scott McCall, David Berger, and Michelle Wallin; counsel Angela Bernardi; associates Jessica Bliss, John Bennett, and Lorin Wagner; and paralegals Aaron Bromagem and Andrew Chew.
For more information, click here to read the companies' joint press release.