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Technology Stocks : Silicon Motion Inc. (SIMO)
SIMO 88.87+1.5%Nov 28 12:59 PM EST
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To: Elroy who wrote (2697)8/8/2023 8:21:25 AM
From: Sam  Read Replies (1) of 2976
 
Since they don't state any specific "material adverse effects" or "multiple additional contractual failures," but state that they are "entirely confident", my guess is that they are huffing and bluffing and hoping SIMO will go away. It is a classic bluff with no substance. Or so it seems to me.

re:

CARLSBAD, Calif.--(BUSINESS WIRE)-- MaxLinear, Inc.(MXL) , a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits, commented on correspondence received today from Silicon Motion(SIMO) regarding MaxLinear’s termination of the parties’ merger agreement (the “Merger Agreement” or “Agreement”).

As previously disclosed, MaxLinear(MXL) terminated the Merger Agreement on multiple grounds, including that Silicon Motion(SIMO) has experienced a material adverse effect and multiple additional contractual failures, all of which is clearly supported by the undisputable factual record. MaxLinear(MXL) 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.

Maxlinear, Commenting On Letter From Silicon Motion Regarding Previously Terminated Transaction Said Remains Entirely Confident In Its Decision To Terminate Agreement With Silicon Motion
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