RF Micro Devices, Inc. today announced the preliminary results of its special meeting of shareholders held earlier this morning to approve its agreement and plan of merger and reorganization with TriQuint Semiconductor, Inc.
RFMD shareholders voted to approve the merger agreement and to approve, by non-binding advisory vote, the compensation arrangements for RFMD’s named executive officers in connection with the transaction. TriQuint’s stockholders are scheduled to vote on the merger agreement and other matters at a special meeting to be held later today.
“Today’s shareholder vote is a significant endorsement of our vision to create the new leader in RF solutions,” Bob Bruggeworth, president and CEO of RFMD, said. “With the closing of this transaction, we will bring under one roof the industry’s broadest portfolio of critical enabling technologies, with expertise in mobile devices and complex infrastructure and global aerospace/defense applications.”
RFMD and TriQuint anticipate the closing of the transaction will occur in the second half of calendar 2014 subject to the receipt of regulatory approval and other customary closing conditions.