Semtech, Sierra Wireless Get Second Requests From U.S. DOJ On Merger Deal

(RTTNews) - Semtech Corp. (SMTC), a supplier of analog and mixed-signal semiconductor products and advanced algorithms, and Sierra Wireless, Inc. (SWIR, SW.TO) announced that each company has received a request for additional information and documentary material, commonly known as a second request, from the U.S. Department of Justice.

The second requests, in connection with Semtech's previously announced acquisition of Sierra Wireless, were issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

In August, Semtech said it agreed to acquire Sierra Wireless for $31 per share in an all-cash deal, representing a total enterprise value of about $1.2 billion.

The companies now said the issuance of the second requests extends the waiting period until 30 days after Semtech and Sierra Wireless have substantially complied with the second requests.

Semtech and Sierra Wireless are cooperating fully with the DOJ in order to facilitate its review.

Semtech in early October received a no action letter from the Canadian Competition Bureau, satisfying the Competition Act Approval condition to closing.

The transaction is expected to close within the timeframe initially provided under the arrangement agreement, which ends no later than March 3, 2023.