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Microchip Technology completes acquisition of Microsemi

Arizona-based chipmaker Microchip Technology Inc. said it completed its $10.15 billion acquisition of Microsemi Corp., following the approval of the target's shareholders May 23.

Under the terms of the deal, Microsemi shareholders received $68.78 in cash for each share of Microsemi common stock. Microchip said it expects an estimated $300 million in synergies in the third year after the close of the transaction.