RDA Microelectronics Announces Engagement of Financial Advisor, Strategic Consultant and Legal Counsel
October 08 2013 - 6:00PM
RDA Microelectronics, Inc. (Nasdaq:RDA) ("RDA Microelectronics" or
the "Company"), a fabless semiconductor company that designs,
develops and markets wireless systems-on-chip and radio-frequency
(RF) semiconductors for cellular, connectivity and broadcast
applications, today announced that its Board of Directors (the
"Board") has retained Morgan Stanley Asia Limited ("Morgan
Stanley") as its financial advisor in connection with the
recently-announced unsolicited, preliminary non-binding proposal
made by Shanghai Pudong Science and Technology Investment Co., Ltd.
("PDSTI"). In such proposal, PDSTI proposed to acquire all of the
outstanding ordinary shares and American Depositary Shares of the
Company for US$2.5833 per share or US$15.50 per ADS.
Morgan Stanley has been retained to assist the Board in its
evaluation of the proposal from PDSTI and consideration of other
potential strategic alternatives. The Board has also retained
Kilometre Capital as the Company's strategic consultant, and Wilson
Sonsini Goodrich & Rosati, P.C. and Skadden, Arps, Slate,
Meagher & Flom LLP as the Company's legal counsels with respect
to the PDSTI proposal and potential alternatives and general
corporate advice.
The Board is continuing its review and evaluation of PDSTI's
proposal. No decision has been made with respect to the
Company's response to the proposal. There can be no assurance
that any definitive offer will be made, that any agreement will be
executed or that this or any other transaction will be approved or
consummated. The Company does not undertake any obligation to
provide any updates with respect to this or any other transaction,
except as required under applicable law.
About RDA Microelectronics
RDA Microelectronics is a fabless semiconductor company that
designs, develops and markets wireless system-on-chip and
radio-frequency semiconductors for cellular, connectivity and
broadcast applications. The Company's product portfolio currently
includes baseband, radio-frequency front-end modules, power
amplifiers, transceivers, Bluetooth system-on-chip, Wi-Fi,
Bluetooth and FM combo chips, FM radio receivers, set-top box
tuners, analog mobile television receivers, CMMB mobile television
receivers, walkie-talkie transceivers and LNB satellite down
converters. For additional information, please see the Company's
website at http://www.rdamicro.com.
CONTACT: Lily Dong, Chief Financial Officer
RDA Microelectronics, Inc.
+86-21-5027-1108
ir@rdamicro.com
or
Leanne Sievers, EVP
Shelton Group Investor Relations
949-224-3874
lsievers@sheltongroup.com
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