As previously disclosed, on July 12, 2020, Analog Devices
Inc., a Massachusetts corporation (“ADI”), entered into an
Agreement and Plan of Merger, by and among ADI, Magneto Corp., a
Delaware corporation and wholly owned subsidiary of ADI (“Merger
Sub”), and Maxim Integrated Products, Inc., a Delaware corporation
(“Maxim”), pursuant to which, on the terms and subject to the
conditions set forth therein, Merger Sub will merge with and into
Maxim (the “Merger”), with Maxim surviving such Merger as a wholly
owned subsidiary of ADI.
The completion of the Merger is conditioned upon the expiration or
termination of the waiting period applicable to the consummation of
the Merger under the Hart-Scott-Rodino Antitrust Improvements Act
of 1976, as amended (the “HSR Waiting Period”). The HSR Waiting
Period expired on September 25, 2020 at 11:59 p.m. Eastern
Time.
ADI and Maxim continue to expect to complete the Merger in the
summer of 2021, subject to the satisfaction or permitted waiver of
the other conditions to closing.
Forward Looking Statements
This filing relates to the proposed business combination
transaction between ADI and Maxim. This communication contains
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements address a variety of
subjects, including, for example, projections as to the anticipated
benefits of the proposed transaction, the anticipated impact of the
proposed transaction on the combined organization’s business and
future financial and operating results, the expected amount and
timing of synergies from the proposed transaction, and the
anticipated closing date for the proposed transaction. Statements
that are not historical facts, including statements about ADI’s and
Maxim’s beliefs, plans and expectations, are forward-looking
statements. Such statements are based on ADI’s and Maxim’s current
expectations and are subject to a number of factors and
uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements.
Forward-looking statements often contain words such as “expect,”
“anticipate,” “intend,” “plan,” “believe,” “estimate,” “would,”
“target” and similar expressions, as well as variations or
negatives of these words. The following important factors and
uncertainties, among others, could cause actual results to differ
materially from those described in these forward-looking
statements: the uncertainty as to the extent of the duration, scope
and impacts of the COVID-19
pandemic; political and economic uncertainty, including any
faltering in global economic conditions or the stability of credit
and financial markets; erosion of consumer confidence and declines
in customer spending; unavailability of raw materials, services,
supplies or manufacturing capacity; changes in geographic, product
or customer mix; changes in export classifications, import and
export regulations or duties and tariffs; changes in ADI’s or
Maxim’s estimates of their respective expected tax rates based on
current tax law; ADI’s ability to successfully integrate Maxim’s
businesses and technologies; the risk that the expected benefits
and synergies of the proposed transaction and growth prospects of
the combined company may not be fully achieved in a timely manner,
or at all; adverse results in litigation matters, including the
potential for litigation related to the proposed transaction; the
risk that ADI or Maxim will be unable to retain and hire key
personnel; the risk associated with ADI’s and Maxim’s ability
to