Conexant Pockets $100M In Jazz Semi Merger
Newport Beach-based Conexant is reporting that it will receive approximately $100M in cash from its 42 percent ownership of Jazz Semiconductor, due to the company's merger with Acquicor. Acquicor and Jazz Semicondutor said yesterday that the companies would merge in a transaction worth $260M. Jazz was spun out of Conexant in March 2002. Conexant said that the proceeds woudl significantly strengthen the firm's balance sheet and provide it with improved liquidity.
posted on Wednesday, September 27, 2006
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