SAN JOSE, Calif. Layoffs are expected amid On Semiconductor Corp.'s announcement that it has completed its acquisition of AMIS Holdings Inc. for $613 million.
According to wire services, layoffs at AMI Semiconductor Inc. have already begun. More details are expected this week.
The acquisition was annouced in recent times. Under the terms of the merger agreement, holders of AMIS will generally receive 1.15 shares of ON Semiconductor common stock for each share of AMIS common stock they own as of the close of business today.