ON Semiconductor Extends Tender Offer To Acquire Fairchild - Quick Facts

(RTTNews) - ON Semiconductor Corp. (ON) announced it has extended tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (FCS) for $20.00 per share in cash pending the satisfaction of the conditions to the offer. The offer will now expire on August 4, 2016. As on July 21, approximately 60,947,806 shares of common stock of Fairchild have been validly tendered, representing approximately 53.1% of the outstanding shares.

Pending satisfaction of the conditions to the offer, the merger agreement requires successive 10-business day extensions of the offer, and ON Semiconductor currently intends to continue making such successive extensions, subject to the other terms and conditions of the merger agreement.