On Semi clear to buy Fairchild

September 05, 2016 // By Peter Clarke
On Semiconductor Corp. has moved a step closer to its acquisition of Fairchild Semiconductor International Inc. for $2.4 billion.

The US Federal Trade Commission (FTC) has terminated the Hart-Scott-Rodino waiting period applicable to On Semi's offer. The FTC had required that On Semi get rid of planar insulated gate bipolar transistor business, which business and On Semi has now completed a deal to do that. Littelfuse Inc. is the buyer of the ignition IGBT in combination with transient voltage suppression diode and switching thyristor product lines for $104 million in cash.

The product portfolio has annual sales of approximately $55 million and closed on Monday August 29.

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