Analog Devices Announces Commencement Of Tender Offer For Acquiring Hittite

(RTTNews) - Analog Devices, Inc. (ADI), a maker of signal processing integrated circuits, Monday said it commenced a tender offer to purchase all outstanding shares of Hittite Microwave Corp.'s (HITT) common stock for $78.00 per share in cash.

Earlier this month, Analog Devices announced signing a deal to acquire Hittite, a developer of integrated circuits for radio frequency microwave and millimeterwave applications, for enterprise value of $2 billion.

Following the completion of the tender offer, ADI will acquire all remaining Hittite shares through a merger of its Delaware unit BBAC Corp. with and into Hittite.

The tender offer will expire at 12:00 midnight New York City time at the end of July 21, unless extended.