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Friday, August 22, 2014

Murata Electronics to purchase Peregrine Semiconductor for $465 mln, (NASDAQ: PSMI)

Murata Electronics North America Inc said it would purchase the rest of chipmaker Peregrine Semiconductor Corp it does not already own in an all-cash deal valued at $465 million. The offer price of $12.50 per share is at a premium of 62.5 percent to Peregrine's Thursday close of $7.69.

Peregrine Semiconductor Corporation (Peregrine) is engaged in the design, manufacturing and marketing radio frequency integrated circuits (RFICs) for the aerospace and defense, broadband, industrial, mobile wireless device, test and measurement equipment, and wireless infrastructure markets. Shares of PSMI traded higher by 2.67% or $0.2/share to $7.69. In the past year, the shares have traded as low as $4.75 and as high as $11.76. On average, 163448 shares of PSMI exchange hands on a given day and today's volume is recorded at 161396.