Zilog to respond to Ixys' $4.50-per-share offer by end of week

By Lisa Kerner

Charlotte, N.C., May 27 - Zilog, Inc. said it expects to publicly respond to Ixys Corp.'s offer to buy the company on or before Friday.

In a letter to Ixys, Zilog chief executive officer Darin Billerbeck said the company's board of directors will evaluate Ixys' offer in the context of the company's recently announced three-year strategic plan and other possible alternatives.

The letter was included in a form 8-K filing with the Securities and Exchange Commission.

Ixys offered to acquire all the outstanding shares of Zilog for $4.50 per share in cash and stock, it was previously reported.

Zilog, if acquired by the shareholder, would operate as a distinct business division in the Silicon Valley, Ixys said.

When Ixys made the offer on May 16, it requested that Zilog respond by May 27.

Ixys is a Milpitas, Calif., power semiconductor company.

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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