ON Semiconductor to fund Aptina acquisition with revolver borrowings

By Tali Rackner

Norfolk, Va., June 9 – ON Semiconductor Corp. plans to use borrowings under its existing revolving credit facility to fund the acquisition of Aptina Imaging, according to a press release filed with the Securities and Exchange Commission.

The company will also use available cash on its balance sheet to help fund the purchase.

The Phoenix-based semiconductor company will pay about $400 million in cash to acquire Aptina, subject to certain customary closing adjustments.

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