ON Semiconductor Again Extends Tender Offer for Fairchild

ON Semiconductor again extended its previously announced tender offer -- to acquire the outstanding shares of Fairchild Semiconductor for $20 per share in cash -- which expired Thursday. The latest extension expires Aug. 4 at midnight EDT, said an ON news release Friday. It has received some 61 million shares of Fairchild common stock, not including 6.3 million shares tendered by notice of guaranteed delivery for shares not yet delivered, representing 53.1 percent of outstanding Fairchild shares. All other terms and conditions are unchanged, said the company. Terms of the transaction agreement require successive 10-business-day extensions, and ON Semiconductor “currently intends to continue making such successive extensions,” it said. The initial purchase offer was made Dec. 4.