臺北2016年7月29日電 /美通社/ -- ADI 公司(NASDAQ: ADI) (「Analog Devices」)和凌力爾特公司(NASDAQ: LLTC) (「Linear Technology」)於美東時間7月26日宣佈雙方已達成最終協議，ADI 公司以現金和股票交易方式收購凌力爾特公司，合併後公司總市值約為300億美元(1)。收購完成之後，ADI 公司將成為全球首要的領先類比技術公司，預計年度收入近50億美元。
ADI公司收購凌力爾特 開創全球首要的領先類比技術公司
根據協定條款，交易結束後，持有凌力爾特公司普通股的股東，每股可兌換46美元現金和0.2321股 ADI 公司普通股。在本次交易中，凌力爾特公司股份估價為每股約60美元(1)，這表示凌力爾特公司的股權價值約為 148億美元(1)。
ADI 公司總裁兼執行長 Vincent Roche 表示：「ADI 公司和凌力爾特公司的合併將半導體行業最強的兩家業務和技術公司聯合起來。我們共同專注於卓越的工程設計，將高度互補的行業領先產品進行組合，有利於解決客戶在真實世界和數位世界交融時面臨的最難、最複雜的挑戰。我們為工業、汽車和通訊基礎設施的客戶創設一個無可比擬的創新和支援夥伴。此次收購對我們的客戶、員工和業界意義深遠，我對此感到非常激動。」
凌力爾特公司執行主席兼聯合創始人 Bob Swanson 補充：「35年以來，凌力爾特公司藉由有機式的業務增長，取得了巨大成功。然而，凌力爾特和 ADI 的合併潛力無限，有希望真正達到一加一大於二的效果。因此，凌力爾特公司董事會認為這次交易極具吸引力，可以帶給股東切實的利益，合併後公司股票也有望升值。ADI 公司聲名遠播。技術優勢的互補結合給了我們絕佳的機會，可以藉此增強我們在類比和功率半導體市場上的領導力，增加股東權益。凌力爾特和 ADI 將共同推進技術發展，向全球客戶提供創新的類比解決方案。我們致力於攜手 ADI 團隊，確保平穩過渡。」
引人注目的戰略和財務效益
- 全球高性能類比產業領導者：此次合併有望創造一個全球高性能類比產業的領導者，產品涉及資料轉換器、電源管理、放大器、介面、RF 和微波產品等。
- 高度互補的業務：高度互補的產品組合締造業界最全面的高性能類比方案，ADI 公司的目標市場總額也從80億美元增長到140億美元。
- 領先地位及對客戶的承諾：合併後公司將在各大高性能類比產品類別中成為領導者，並共同致力於為客戶提供最高水準的創新、服務和支援。
- 在具有吸引力的市場中加速創新進程和收入增長：卓越的工程經驗和專業知識的獨特結合將加快工業、汽車和通訊基礎設施市場中創新進程和收入增長的機遇。
- 一流的財務模式：創新和卓越工程經驗的價值體現在一流的財務模式、非一般公認會計原則計算的利潤和自由現金流。
- 增值性交易：此次交易有望讓 ADI 公司非一般公認會計原則計算的每股收益和自由現金流立刻獲得增長。ADI 公司預計在交易結束後18個月內達到年度成本協同效益1.5億美元。
Roche 先生總結表示：「我們對凌力爾特品牌抱有最大誠意的尊重和讚賞。毫無疑問，我們兩家公司的結合將會締造值得信賴的產業領導者，為雙方的股東創造出巨大價值。」
交易結束後，ADI 公司總裁兼執行長 Roche 先生將繼續擔任合併後的公司總裁兼執行長，ADI 公司高級副總裁和首席財務官 David Zinsner 將繼續擔任合併後的公司高級副總裁和首席財務官。ADI 公司和凌力爾特公司計畫為合併後的公司打造一支強大的領導團隊，涵蓋兩家公司各個職能部門的代表。凌力爾特品牌將繼續作為ADI公司電源管理產品的品牌。合併公司將沿用 Analog Devices, Inc. 的名字並繼續在納斯達克以 ADI 作為代碼進行交易。
交易結構和交易條款
根據協定條款，交易完成時，持有凌力爾特公司普通股的股東，每股可兌換46美元現金和0.2321股 ADI 公司普通股。在本次交易中，凌力爾特公司股份估價為每股約60美元(1)，這表示凌力爾特公司的股權價值約為148億美元(1)。交易結束後，凌力爾特公司股東將擁有合併公司約16%的完全稀釋股數。ADI 公司計畫透過以下方式為本次交易籌資：約5800萬股 ADI 公司新普通股、約73億美元新型長期債務以及合併公司資產負債表現金的剩餘部分。新型長期債務由全額包銷的過渡性貸款承諾承擔，預計包括定期貸款和債券，尤其是預付債務，以便快速減債。
兩家公司的董事會已一致批准本次交易。本次交易預計將在2017年上半年末完成，需要通過各司法管轄監管部門的批准以及凌力爾特公司股東的批准，還需要滿足其他例定成交條件。
ADI公司財務預報
ADI公司同時縮小範圍並提高了2016財年第三季度的財務預報，營收預計約為8.65億美元，每股稀釋收益為0.71至0.72美元，非一般公認會計原則每股稀釋收益預計為0.77至0.78美元。非一般公認會計原則每股收益預估反映了攤銷購買無形資產和已購固定資產強化價值貶值的預期調整，資產價值總計1900萬美元。
顧問
瑞信是ADI公司的全權財務顧問，Wachtell、Lipton、 Rosen & Katz 律師事務所以及威凱平和而德律師事務所為其法律顧問。摩根大通、美銀美林和瑞信為本次融資交易提供債務承諾。Qatalyst Partners 是凌力爾特公司的全權財務顧問，Jones Day 為其法律顧問。
電話會議和直播資訊
ADI公司和凌力爾特公司管理層將已於美國東部時間2016年7月26日下午5:00召開電話會議，討論交易細節。
會議將提供重播（資料開放兩周），屆時可撥打(855) 859-2056（僅限重播）並提供會議ID：56173988，也可訪問 investor.analog.com，以獲得重播資料。
關於ADI公司
Analog Devices, Inc.（簡稱ADI）始終致力於設計與製造先進的半導體產品和優秀的解決方案，憑藉傑出的感測、測量和連接技術，搭建連接真實世界和數位世界的智慧化橋樑，從而協助客戶重新認識周圍的世界。詳情請瀏覽 ADI 官網 http://www.analog.com/ 。
關於凌力爾特公司
凌力爾特公司 (Linear Technology) 是 S&P 500 指數的成員，在過往的 30 多年，一直致力於為全球主要的公司設計、製造和銷售門類寬泛的高性能類比積體電路。凌力爾特的產品為我們身處的類比世界與數位化電子建立起不可或缺的橋樑，應用範圍包括通信、網路、工業、汽車、電腦、醫療、儀錶、消費、以及軍事和航太系統等領域。凌力爾特製造的產品包括電源管理、資料轉換、信號調理、RF 和介面 IC、μModule®子系統、以及無線感測器網路產品。如需更多資訊，請登錄 http://www.linear.com。
註：
(1)截至2016年7月21日，彭博顯示的 ADI 公司5日成交量加權平均價為60.3215美元。
Forward Looking Statements
This press release contains forward-looking statements, which address a variety of subjects including, for example, the expected timetable for closing of the transaction between Analog Devices, Inc. ("Analog Devices") and Linear Technology Corporation ("Linear Technology"), the expected benefits and synergies of the transaction, including the effect of the transaction on Analog Devices' revenues, non-GAAP earnings, free cash flow, capital returns and expected growth rates of the combined companies, Analog Devices' expected product offerings, product development, marketing position and technical advances resulting from the transaction, the availability of debt financing for the transaction, Analog Devices' timing and ability to repay the debt and Analog Devices' guidance for its third quarter of fiscal 2016. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the ability to satisfy the conditions to closing of the proposed transaction, on the expected timing or at all; the ability to obtain required regulatory approvals for the proposed transaction, on the expected timing or at all, including the potential for regulatory authorities to require divestitures in connection with the proposed transaction; the occurrence of any event that could give rise to the termination of the merger agreement; the risk of stockholder litigation relating to the proposed transaction, including resulting expense or delay; higher than expected or unexpected costs associated with or relating to the transaction; the risk that expected benefits, synergies and growth prospects of the transaction may not be achieved in a timely manner, or at all; the risk that Linear Technology's business may not be successfully integrated with Analog Devices' following the closing; the risk that Analog Devices and Linear Technology will be unable to retain and hire key personnel; and the risk that disruption from the transaction may adversely affect Linear Technology's or Analog Devices' business and relationships with their customers, suppliers or employees. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to both Analog Devices' and Linear Technology's filings with the Securities and Exchange Commission ("SEC"), including the risk factors contained in each of Analog Devices' and Linear Technology's most recent Quarterly Reports on Form 10-Q and Annual Report on Form 10-K. Forward-looking statements represent management's current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.
Important Additional Information Will Be Filed With The SEC
In connection with the proposed transaction, Analog Devices and Linear Technology intend to file relevant information with the SEC, including a registration statement of Analog Devices on Form S-4 (the "registration statement") that will include a prospectus of Analog Devices and a proxy statement of Linear Technology (the "proxy statement/prospectus"). INVESTORS AND SECURITY HOLDERS OF LINEAR TECHNOLOGY ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANALOG DEVICES, LINEAR TECHNOLOGY AND THE PROPOSED TRANSACTION. A definitive proxy statement/prospectus will be sent to Linear Technology's shareholders. The registration statement, proxy statement/prospectus and other documents filed by Analog Devices with the SEC may be obtained free of charge at Analog Devices' website at www.analog.com or at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from Analog Devices by requesting them by mail at Analog Devices, Inc., One Technology Way, P.O. Box 9106, Norwood, MA 02062-9106, Attention: Investor Relations, or by telephone at (781) 461-3282. The documents filed by Linear Technology with the SEC may be obtained free of charge at Linear Technology's website at www.linear.com or at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from Linear Technology by requesting them by mail at Linear Technology Corporation, 1630 McCarthy Blvd., Milpitas, CA, 95035-7417, Attention: Investor Relations, or by telephone at (408) 432-2407.
Participants in the Solicitation
Linear Technology, Analog Devices and certain of their directors, executive officers and employees may be deemed participants in the solicitation of proxies from Linear Technology shareholders in connection with the proposed transaction. Information regarding the persons who may be deemed to be participants in the solicitation of Linear Technology shareholders in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the proxy statement/prospectus when it is filed with the SEC. Information about the directors and executive officers of Analog Devices and their ownership of Analog Devices' common stock is set forth in the definitive proxy statement for the Analog Devices' 2016 annual meeting of shareholders, as previously filed with the SEC on January 28, 2016. Information about the directors and executive officers of Linear Technology and their ownership of Linear Technology common stock is set forth in the definitive proxy statement for Linear Technology's 2015 annual meeting of shareholders, as previously filed with the SEC on September 17, 2015. Free copies of these documents may be obtained as described in the paragraphs above.
Non-Solicitation
This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
