SiRF Technology, CSR merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., March 26 - The Hart-Scott-Rodino waiting period expired in the proposed merger of SiRF Technology Holdings, Inc. and CSR plc, according to a form 8-K filed on Thursday with the Securities and Exchange Commission.

In February, the companies announced an agreement to combine in a stock-for-stock transaction valued at approximately $136 million.

As previously reported, SiRF stockholders will receive 0.741 of a CSR share for each share of SiRF common stock they own. The consideration is equivalent to $2.06 per SiRF share based on CSR's closing stock price on Feb. 9.

The merger is expected to close in the second quarter of 2009 subject to shareholder approval, the companies said.

SiRF, based in San Jose, Calif., is a provider of GPS-enabled silicon and premium software location platforms.

CSR provides wireless voice and data communications. The company is located in Cambridge, England.

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