Microsemi Passes Antitrust Hurdle In Vitesse Acquisition

Aliso Viiejo-based Microsemi reported this morning that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, for the company's acquisition of Camarillo-based Vitesse Semiconductor. The regulatory hurdle means that U.S. regulators do not intend to conduct any kind of review of the transaction. Microsemi said on March 18th that it would pay approximately $389M, or $5.28 per share, for Vitesse. Both companies make various semiconductors, with Microsemi offering up analog and mixed signal integrated circuits and power management products; Vitesse focuses more on the high speed networking part of the market.