RF Micro, TriQuint move forward with merger
RF Micro Devices Inc. and TriQuint Semiconductor Inc. said in a joint statement Tuesday that the Federal Trade Commission and U.S. Justice Department did not respond with antitrust concerns by Friday’s deadline under the Hart-Scott-Rodino Antitrust Improvements Act, according to the Winston-Salem Journal.
The waiting period is to allow regulators to review mergers and acquisitions for anti-competitive issues.
RF Micro, based in Greensboro, and TriQuint, based in Hillsboro, Ore., announced Feb. 22 that RF Micro plans to spend $1.56 billion in stock to buy Tri-Quint. TriQuint has a small office in High Point.
In a deal that appears to be more equal than most mergers of equals, the combined company would have dual headquarters. About 1,500 of RF Micro’s 3,500-person workforce is based in Guilford County.
RF’s purchase still is subject to approval by the companies’ shareholders, as well as other required regulatory approvals.