ON Semiconductor Corporation (ONNN) to Acquire Catalyst Semiconductor, Inc. (CATS)
In a press release on Thursday (July 17th), ON Semiconductor Corporation ("OSC") officially announced its intent to acquire Catalyst Semiconductor, Inc. in an all-stock transaction with an equity value of around $115 million. Investors are to receive exactly 0.706 shares of OSC common stock for each of their existing shares of Catalyst Semiconductor, Inc. The merger is expected to strengthen both companies, as iterated by OSC's CEO, Keith Jackson in this statement: "Catalyst Semiconductor's analog and mixed-signal business represented more than $11 million in sales as of their April 2008 fiscal year end - a business that grew more than…