Shares of Baidu Inc (ADR) (NASDAQ:BIDU) ended Tuesday session in red amid volatile trading. The shares closed down -2.23 points or -1.21% at $181.90 with 2.41 million shares getting traded. Post opening the session at $182.79, the shares hit an intraday low of $180.64 and an intraday high of $183.78 and the price vacillated in this range throughout the day. The company has a market cap of $63.75 billion and the numbers of outstanding shares have been calculated to be 27.17 million shares.
On Sep 1, 2016 HARMAN International Industries, Incorporated ( NYSE : HAR ), the premier connected technologies company for automotive, consumer and enterprise markets, and Baidu, Inc. ( NASDAQ : BIDU ), the leading Chinese language Internet search provider, announced a global partnership at the annual Baidu World conference. Through this partnership, HARMAN will deliver high-quality audio solutions to innovative speech-enabled smart speakers, integrated with Baidu’s advanced Artificial Intelligence (AI) technology.
“Consumers want a connected lifestyle that elevates their everyday experiences. To realize the power and potential of this demand, HARMAN is focused on delivering technologies and solutions that offer sophisticated functionalities, personalized user interfaces and, importantly, seamless integration from home and work to the car and on the go,” said Dinesh Paliwal, chairman, president and CEO of HARMAN. “We are excited to expand HARMAN’s relationship with Baidu which started with Connected Car implementing Baidu’s Car Life, an industry first which led to further development with smart audio speakers that integrate Baidu’s AI capabilities. Now consumers will have the best of all worlds with flawless sound quality, award-winning Harman Kardon design and advanced speech-enabled capabilities for an exceptional listening experience.”
“The partnership between Baidu and HARMAN will let consumers use natural voice control to experience premium quality sound and on-demand services,” said Andrew Ng, chief scientist of Baidu. “HARMAN will integrate a range of AI technologies from Baidu, including speech recognition, natural language processing and speech synthesis.”
Shares of ON Semiconductor Corp (NASDAQ:ON) ended Tuesday session in red amid volatile trading. The shares closed down -0.20 points or -1.92% at $10.24 with 4.76 million shares getting traded. Post opening the session at $10.42, the shares hit an intraday low of $10.17 and an intraday high of $10.55 and the price vacillated in this range throughout the day. The company has a market cap of $4.33 billion and the numbers of outstanding shares have been calculated to be 415.55 million shares.
ON Semiconductor Corp (ON) on September 2, 2016 announced that it has extended its previously announced tender offer to purchase all of the outstanding shares of common stock of Fairchild Semiconductor International Inc. (Nasdaq: FCS) (“Fairchild”) for $20.00 per share in cash (the “Offer”) 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 September 16, 2016, unless further extended as required or permitted by the merger agreement. All other terms and conditions of the Offer remain unchanged. Computershare Trust Company, N.A., the depositary for the Offer, has advised ON Semiconductor that as of the close of business, New York City time on September 1, 2016, approximately 84,947,259 shares of common stock of Fairchild (not including 8,262,772 shares tendered by notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 74.0% of the outstanding shares of common stock of Fairchild.
ON Semiconductor and Fairchild continue to work expeditiously to obtain the remaining required regulatory approval in China in connection with the terms and conditions of the merger agreement and expect to close the acquisition around mid-September. Pending satisfaction of the conditions to the Offer, the merger agreement requires successive extensions of up to 10 business days 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. This press release is being issued under applicable securities laws in order to notify Fairchild’s stockholders of the extension.