Atheros Communications, Intellon merger one step closer to completion

By Lisa Kerner

Charlotte, N.C., Oct. 27 - The Hart-Scott-Rodino waiting period has ended in the proposed merger of Atheros Communications, Inc. and Intellon Corp., it was announced on Tuesday.

As previously reported, Atheros agreed in September to acquire Intellon in a cash-and-stock deal valued at about $244 million, or $181 million net of Intellon's cash, cash equivalents and short-term investments as of June 30.

Under the merger agreement, Intellon shareholders can elect to receive a) approximately 0.135 of a share of Atheros common stock and about $3.60 in cash, b) $7.30 in cash or c) about 0.267 of a share of Atheros common stock for each share of Intellon common stock.

Atheros expects to close the deal during the fourth quarter of 2009.

Based in Santa Clara, Calif., Atheros provides semiconductor system solutions for communication integrated circuit products.

Intellon is a fabless semiconductor company located in Orlando, Fla.

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