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Technology Stocks : Silicon Motion Inc. (SIMO)

SIMO 88.85

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From: Elroy	8/7/2023 6:05:53 PM
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MXL responds with ..... nothing? -- CARLSBAD, Calif., August 07, 2023--( BUSINESS WIRE)--MaxLinear, Inc. (Nasdaq: MXL), a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, commented on correspondence received today from Silicon Motion (Nasdaq: SIMO) regarding MaxLinear’s 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 undisputable factual record. MaxLinear remains entirely confident in its decision to terminate the Agreement. Silicon Motion’s August 7th correspondence adds no relevant information and does nothing to change the fact that the Agreement has been properly terminated in accordance with its terms.

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