RF Micro Devices Inc of Greensboro, NC, USA has announced the preliminary results of its special meeting of shareholders held to approve its agreement and plan of merger and reorganization with RF front-end component maker TriQuint Semiconductor Inc of Hillsboro, OR, USA.
RFMD shareholders voted to approve the merger agreement and to approve, by non-binding advisory vote, the compensation arrangements for RFMD's named executive officers in connection with the transaction. TriQuint's stockholders are scheduled to vote on the merger agreement and other matters at a special meeting to be held later today.
"Today's shareholder vote is a significant endorsement of our vision to create the new leader in RF solutions," says RFMD's president & CEO Bob Bruggeworth. "With the closing of this transaction, we will bring under one roof the industry's broadest portfolio of critical enabling technologies, with expertise in mobile devices and complex infrastructure and global aerospace/defense applications."
RFMD and TriQuint anticipate that the closing of the transaction will occur in second-half 2014, subject to the receipt of regulatory approval and other customary closing conditions.