RSS   Newsletter   Contact   Advertise with us

Former CEO wants to buy Actions Semiconductor

Share on Twitter Share on LinkedIn
Staff writer ▼ | May 23, 2016
Actions Semiconductor board has received a non-binding proposal letter from Hsuan-Wen Chen, former CEO of the company, and certain of his affiliates, that proposes a "going-private" transaction.
Actions Semiconductor
Semiconductors   Actions Semiconductor receives $2 per ADS going private proposal
The transaction is involving the acquisition of all of the outstanding equity interest of the Company not already owned by the Consortium Members at price of $2 per American depositary share (ADS) or $0.333 per ordinary share, each ADS represents six ordinary shares.

According to the proposal letter, the consortium members beneficially owned, in the aggregate, approximately 34.61% of the company's outstanding share capital.

The board has formed a special committee of independent directors to consider the proposal.