LSI Logic Corporation and Agere Systems have entered into a merger agreement under which the companies will be combined in an all-stock transaction worth approximately $4bn.
Under the terms of the agreement, Agere shareholders will receive 2.16 shares of LSI for each share of Agere they own. Based on the closing stock price of LSI on December 1, 2006, this represents a value to Agere shareholders of $22.81 per share.
According to a statement, the combined company, to be called LSI Logic Corporation, will offer a comprehensive set of building block solutions including semiconductors, systems and related software for storage, networking and consumer electronics products.
The companies operate in more than 20 countries, with a combined workforce of approximately 9,100 employees, including nearly 4,300 engineers. The companies own a substantial patent portfolio consisting of more than 10,000 issued and pending US patents.
The transaction is subject to the approval of shareholders from both companies as well as customary closing conditions and regulatory approvals. The companies expect the transaction to close in the first quarter of 2007.
MOF captures hot CO2 from industrial exhaust streams
How much so-called "hot" exhaust could be usefully captured for other heating purposes (domestic/commercial) or for growing crops?