SensoNor board urges ‘yes’ to Infineon takeover

May 28, 2003 — SensoNor ASA’s board of directors said Wednesday that shareholders should accept an acquisition offer from Infineon Technologies AG, according to a company statement.

The board, citing limited resources and challenges in meeting strategic goals, said the Norwegian MEMS manufacturer would benefit from combining with Infineon, a German maker of semiconductor and systems technology. The board also said Infineon plans to keep SensoNor’s development and production facilities in Norway.

Infineon, a German maker of semiconductor and systems technology, expects to pay about $56 million to complete the acquisition. SensoNor, best known for its automotive sensors, also offers design and foundry services for MEMS used in telecommunications and biotechnology.

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