SAN JOSE, Calif., June 19, 2012 - Integrated Device Technology, Inc. (IDT®) (NASDAQ: IDTI), the Analog and Digital Company™ delivering essential mixed-signal semiconductor solutions, today announced that it is extending the expiration date of its exchange offer for all outstanding shares of common stock of PLX Technology, Inc. (NASDAQ: PLXT). The exchange offer was previously scheduled to expire at the end of the day on June 20, 2012, at 12:00 midnight, New York City time. The exchange offer is being extended as the applicable waiting period pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”) has not yet expired or been terminated, and the exchange offer is now set to expire at the end of the day on July 12, 2012, at 12:00 midnight, New York City time, unless further extended. Approximately 5.8 million shares, or approximately 13.0% of PLX’s outstanding common stock, had been tendered as of 12:00 midnight at the end of the day on June 18, 2012.
As previously announced on May 22, 2012, IDT commenced an exchange offer to acquire all outstanding shares of common stock of PLX for (i) $3.50 in cash and (ii) 0.525 shares of IDT common stock for each PLX common share outstanding, without interest and less any applicable withholding taxes. The exchange offer is being made pursuant to a Prospectus/Offer to Purchase, dated May 22, 2012, and in connection with an Agreement and Plan of Merger, dated April 30, 2012, which IDT and PLX previously announced on April 30, 2012. As previously announced, on May 7, 2012, in connection with the Agreement and Plan of Merger, which contemplates the exchange offer for all outstanding shares of PLX common stock, followed by a second step merger, IDT and PLX made premerger filings under the HSR Act with the Federal Trade Commission (“FTC”) and the Antitrust Division of the U.S. Department of Justice. Effective June 5, 2012, following consultation with the FTC and PLX, IDT voluntarily withdrew its Notification and Report Form with respect to the exchange offer and the merger. IDT re-filed its Notification and Report form on June 6, 2012.
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