Simpson Thacher is representing Japan’s Murata Manufacturing Co., Ltd. in its acquisition of the entire equity interest in NASDAQ-listed Peregrine Semiconductor Corp. Murata Electronics North America, Inc., a wholly-owned subsidiary of Murata, will acquire Peregrine for a transaction value of approximately US$465 million, or US$12.50 per share in cash. The transaction, which is subject to Peregrine’s stockholder approval, regulatory approvals and other customary closing conditions, is expected to close by the end of 2014 or early 2015.
Murata is a worldwide leader in the design, manufacture and sale of ceramic-based passive electronic components and solutions, communication modules and power supply modules. Peregrine, founder of RF SOI (silicon on insulator), is a leading fabless provider of high-performance, integrated RF solutions.
The Simpson Thacher team for the transaction includes David Sneider, Noritaka Kumamoto and Sayo Takizawa (M&A – Japan); Daniel Clivner and Denis Griffin (M&A – Los Angeles); Peter Thomas, Ravi Sharma, David Shogren and Elliot Weingarten (Regulatory); Tristan Brown, Thomas Asmar and Leah Segall (Executive Compensation and Employee Benefits); and Katharine Moir, Noah Metz and Jason Vollbracht (Tax).
