MaxLinear Announces Expiration of Hart-Scott-Rodino Waiting Period for Proposed Acquisition of Silicon Motion

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[{"type":"text","content":" CARLSBAD, Calif.--(BUSINESS WIRE)--\nMaxLinear, Inc. (NASDAQ: MXL) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), with respect to the previously announced agreement under which MaxLinear will acquire Silicon Motion Technology Corporation (NASDAQ: SIMO) in a cash and stock transaction in which each American Depositary Share (ADS) of Silicon Motion Technology Corporation, which represents four ordinary shares of Silicon Motion Technology Corporation, will receive $93.54 in cash and 0.388 shares of MaxLinear common stock, and each ordinary share of Silicon Motion Technology Corporation will receive $23.385 in cash and 0.097 shares of MaxLinear common stock.\n\nThe expiration of the HSR waiting period occurred at 11:59 p.m. ET on June 27, 2022, which was a condition to the closing of the pending transaction. The closing of the transaction is subject to the satisfaction of the remaining customary closing conditions, including approval by Silicon Motion Technology Corporation’s shareholders and the receipt of regulatory approval in the People’s Republic of China, among other things.\n\nCautionary Statement Regarding Forward-Looking Statements\n\nThis press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Silicon Motion Technology Corporation’s (“Silicon Motion”) and MaxLinear, Inc.’s (“MaxLinear”) current expectations, estimates and projections about the proposed transaction and the potential benefits thereof, their businesses and industry, management’s beliefs and certain assumptions made by Silicon Motion and MaxLinear, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “could,” “seek,” “see,” “will,” “may,” “would,” “might,” “potentially,” “estimate,” “continue,” “expect,” “target,” similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or out...

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