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SILICON LABORATORIES INC.

(SLAB)
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SILICON LABORATORIES INC. : Other Events (form 8-K)

06/08/2021 | 04:38pm EDT

Item 8.01 Other Events.

On June 7, 2021, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), expired in connection with the previously announced Asset Purchase Agreement, dated April 22, 2021 (the "Purchase Agreement"), between Skyworks Solutions, Inc., a Delaware corporation ("Buyer"), and Silicon Laboratories Inc., a Delaware corporation (the "Company"), pursuant to which Buyer has agreed to acquire certain assets, rights, and properties, and assume certain liabilities, comprising the Company's infrastructure and automotive business (the "Asset Purchase").

The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the Asset Purchase. The closing of the Asset Purchase remains subject to the satisfaction or waiver of the remaining conditions to the closing of the Asset Purchase set forth in the Purchase Agreement, including, among other things, the accuracy of representations and warranties, the material performance of covenants, and no occurrence of a material adverse effect.




Forward-Looking Statements



This Current Report on Form 8-K contains forward-looking statements based on Silicon Laboratories' current expectations. The words "believe," "estimate," "expect," "intend," "anticipate," "plan," "project," "will" and similar phrases as they relate to Silicon Laboratories are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Laboratories and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the occurrence of any event, change or other circumstance that could give rise to the termination of the Purchase Agreement; the failure to satisfy any of the conditions to the completion of the proposed transaction; the effect of the announcement of the proposed transaction on the ability of Silicon Laboratories to retain and hire key personnel and maintain relationships with its customers, suppliers, advertisers, partners and others with whom it does business, or on its operating results and businesses generally; risks associated with the disruption of management's attention from ongoing business operations due to the proposed transaction; the ability to meet expectations regarding the timing and completion of the proposed transaction; and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Laboratories disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 846 M - -
Net income 2021 -35,5 M - -
Net cash 2021 132 M - -
P/E ratio 2021 -184x
Yield 2021 -
Capitalization 6 466 M 6 466 M -
EV / Sales 2021 7,49x
EV / Sales 2022 6,95x
Nbr of Employees 1 838
Free-Float 98,2%
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Number of Analysts 11
Last Close Price 144,45 $
Average target price 164,78 $
Spread / Average Target 14,1%
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Managers and Directors
George Tyson Tuttle Chief Executive Officer & Director
R. Matthew Johnson President
John Carter Hollister Chief Financial Officer & Senior Vice President
Navdeep S. Sooch Chairman
Daniel Cooley Chief Technology Officer
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