MaxLinear Comments on Previously Terminated Transaction with Silicon Motion
17 August 2023 - 6:05AM
Business Wire
MaxLinear, Inc. (Nasdaq: MXL), a leading provider of radio
frequency (RF), analog, digital and mixed-signal integrated
circuits, commented on the recent announcement from Silicon Motion
(Nasdaq: SIMO) regarding MaxLinear’s July 26, 2023 termination of
the parties’ merger agreement (the “Merger Agreement” or
“Agreement”).
As previously disclosed, MaxLinear terminated the Merger
Agreement on multiple grounds, including that Silicon Motion has
experienced a material adverse effect and multiple additional
contractual failures, all of which is clearly supported by the
indisputable factual record. MaxLinear remains entirely confident
in its decision to terminate the Agreement.
On August 16, 2023, Silicon Motion confirmed that the Merger
Agreement is terminated and announced its intention to pursue
monetary damages from MaxLinear in the Singapore International
Arbitration Centre. MaxLinear believes any such action is without
merit and will vigorously defend its right to terminate the Silicon
Motion transaction without penalty in arbitration.
About MaxLinear, Inc.
MaxLinear, Inc. (Nasdaq: MXL) is a leading provider of radio
frequency (RF), analog, digital and mixed-signal integrated
circuits for access and connectivity, wired and wireless
infrastructure, and industrial and multi-market applications.
MaxLinear is headquartered in Carlsbad, California. For more
information, please visit www.maxlinear.com.
MXL is MaxLinear’s registered trademark. Other trademarks
appearing herein are the property of their respective owners.
Cautionary Note Concerning Forward-Looking Statements
This release contains forward-looking statements relating to
MaxLinear’s future plans, objectives, beliefs, expectations,
representations, and projections, including but not limited to
statements relating to the terminated merger with Silicon Motion
and any arbitration or other dispute related to the same, that
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended. These
statements are subject to various risks and uncertainties and are
not guarantees of future performance. Forward-looking statements
represent MaxLinear’s management’s beliefs and assumptions only as
of the date such statements are made, and while MaxLinear believes
that the expectations reflected in such forward-looking statements
are accurate, there can be no assurance that such expectations will
occur. Future results could differ materially from those described
in these forward-looking statements due to certain factors,
including but not limited to changes in business, economic and
competitive conditions, regulatory reforms and uncertainties in
arbitration, litigation or other adversarial or investigative
proceedings. MaxLinear assumes no obligation to update or revise
any forward-looking statements, unless required by law.
In addition to these risks and uncertainties, investors should
review the risks and uncertainties contained in our filings with
the Securities and Exchange Commission (SEC), including our Annual
Report on Form 10-K for the year ended December 31, 2022 filed with
the SEC on February 1, 2023, and our Current Reports on Form 8-K,
as well as the information to be set forth under the caption "Risk
Factors" in MaxLinear's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2023.
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version on businesswire.com: https://www.businesswire.com/news/home/20230816982475/en/
Investor Relations Leslie Green Tel: +1 650-312-9060
lgreen@maxlinear.com Media Eric Brielmann / Lucas Pers Joele
Frank, Wilkinson Brimmer Katcher 212-355-4449
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