ON Semiconductor Extends Tender Offer To Acquire Fairchild Semiconductor

(RTTNews) - ON Semiconductor Corp. (ON) said it has extended its previously announced 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 set forth in the merger agreement entered into on November 18, 2015 between ON Semiconductor and Fairchild.

The Offer will now expire one minute following 11:59 p.m., New York City time, on February 3, 2016, unless further extended as required or permitted by the merger agreement.

As of the close of business, on January 20, 2016, about 7.97 million shares of common stock of Fairchild have been validly tendered and not properly withdrawn pursuant to the offer, representing approximately 7% of the outstanding shares of common stock of Fairchild.