MALVERN, Pa.--Vishay Intertechnology Inc. here said a U.S. court in Delaware has denied an attempt to stop it from acquiring total ownership of Siliconix Inc., a long-time supplier of power and analog ICs based in Santa Clara, Calif.
Earlier this year, Vishay launched a bid to acquire the remaining 19.6% shares of Siliconix that it does not already own (see March 1 story). Vishay, a major supplier of passive devices, gained majority ownership of Siliconix when it acquired of Temic Telefunken microelectronics GmbH from Daimler-Benz A.G. in Germany three years ago (see March 3, 1998, story).
Vishay began to offer 1.5 shares of its common stock for each of the remaining Siliconix shares on May 25, but a suit filed in Delaware sought an a preliminary injunction to stop the transaction. Vishay said the court denied the request for an injunction because the plaintiff "has not demonstrated a reasonable probability of success on the merits of his claims."
Currently, Vishay owns 80.4% of the outstanding shares in Siliconix. The offer was set to expire at midnight today, but Vishay announced late this evening that it has extended the deadline until June 29.