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Diodes Incorporated Reiterates Plan to Close Lite-On Semiconductor Acquisition in 2020
PLANO, Texas--(BUSINESS WIRE)-- Diodes Incorporated (Nasdaq: DIOD) today provided the following update related to the status of its proposed acquisition of
About this update from Diodes Incorporated
[{"type":"text","content":" PLANO, Texas--(BUSINESS WIRE)--\nDiodes Incorporated (Nasdaq: DIOD) today provided the following update related to the status of its proposed acquisition of Lite-On Semiconductor (TWSE: 5305) (“LSC”) that was announced on August 8, 2019. As approved by the Board of Directors of both LSC and Diodes, the Outside Date included in the Share Swap Agreement has been updated from May 31, 2020 to December 31, 2020 and is consistent with the previously communicated anticipated close date of the second half of 2020. The amendment was enacted to accommodate the review schedule of the relevant Chinese authorities and associated operational processes that will need to be completed. As stated previously, Diodes remains confident the transaction will close as planned once the final regulatory approvals have been secured.\n\n\nAbout Diodes incorporated\n\n\nDiodes Incorporated (Nasdaq: DIOD), a Standard and Poor’s SmallCap 600 and Russell 3000 Index company, delivers high-quality semiconductor products to the world’s leading companies in the consumer electronics, computing, communications, industrial, and automotive markets. Diodes leverages our expanded product portfolio of discrete, analog, and mixed-signal products and leading-edge packaging technology to meet customers’ needs. Our broad range of application-specific solutions and solutions-focused sales, coupled with worldwide operations of 25 sites, including engineering, testing, manufacturing, and customer service, enables us to be a premier provider for high-volume, high-growth markets. For more information visit www.Diodes.com.\n\n\nForward-Looking Statement\n\n\nSafe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth herein that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such forward-looking statements include, but are not limited to, the following: the expected benefits of the acquisition, including the acquisition being immediately accretive; the efficiencies, cost savings, revenues, and enhanced product offerings, market position, and design and manufacturing capabilities of Diodes after the acquisition; and other statements identified by words such as “estimates,” “expects,” “project...