Zilog seeks to further extend proposal offer deadline

By Lisa Kerner

Charlotte, N.C., Jan. 24 - Zilog, Inc. is not in a position to respond to Universal Electronics Inc.'s acquisition offer before Feb. 1, according to a form 8-K filing with the Securities and Exchange Commission.

Universal Electronics had agreed to extend the expiration of its proposal to acquire Zilog to Jan. 29. The offer was originally in effect until Jan. 21.

It was previously reported that Zilog received an unsolicited acquisition proposal from Universal Electronics on Jan. 18. Riley Investment Management LLC, a 6.2% shareholder, is the financing partner in the deal.

The company is considering alternatives with the assistance of LRG Capital Corporate Advisory Group, LLC.

Based in San Jose, Calif., Zilog is a supplier of eight-, 16- and 32-bit microcontroller and microprocessor system-on-a-chip products.

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