Shares of ON Semiconductor Corp (NASDAQ:ON) ended Friday session in green amid volatile trading. The shares closed up +0.04 points or 0.36% at $11.03 with 2.82 million shares getting traded. Post opening the session at $11.00, the shares hit an intraday low of $10.91 and an intraday high of $11.06 and the price vacillated in this range throughout the day. The company has a market cap of $4.68 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notice of guaranteed delivery for which shares have not yet been delivered) have been validly tendered and not properly withdrawn pursuant to the Offer, representing approximately 74.0% of the outstanding shares of common stock of Fairchild.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.
The completion of the Offer remains subject to certain customary terms and conditions set forth in the Offer to Purchase, dated December 4, 2015, as amended (the “Offer to Purchase”), and other related materials by which the Offer is being made.
Shares of Nielsen N.V. Ordinary Shares (NYSE:NLSN) ended Friday session in red amid volatile trading. The shares closed down -0.01 points or -0.02% at $52.67 with 1.56 million shares getting traded. Post opening the session at $52.95, the shares hit an intraday low of $52.51 and an intraday high of $53.15 and the price vacillated in this range throughout the day. The company has a market cap of $18.83 billion and the numbers of outstanding shares have been calculated to be 357.35 million shares.
On Aug. 24, 2016 Technology-savvy consumers are increasingly motivated by advances in automobile tech, particularly around safety and convenience, when making a new car purchase. However, a lack of familiarity with connected vehicles and some lingering privacy concerns around these technologies remains as an obstacle to wider adoption and increased sales.
“Consumers are becoming more interested in advanced automotive technologies than ever before and are increasingly factoring these technologies into their purchasing decisions,” explained Mike VanNieuwkuyk, vice president, Nielsen Automotive. “Manufacturers need to continue to educate auto shoppers about the technologies that appeal to their personal interests and desires in order to distinguish their products from competitive options and build stronger brand loyalty with these tech savvy consumers.”
The recently released 2016 Nielsen AutoTECHCASTSM Report, an annual study of consumer preferences focused on advanced and emerging automotive technologies, examines the latest industry trends and uncovers the reasons behind them. The AutoTECHCAST survey was conducted during the second quarter of 2016 and encompassed nearly 12,000 U.S. new car buyers and looked at 44 auto-related technologies.