Semiconductor company being bought by Carlyle group &Blackstone, Texas Pac

[flyarm]

Freescale to be bought by Blackstone, Texas Pacific, Carlyle Group
Friday, September 15, 2006, 03:34 PM

http://www.statesman.com/blogs/content/shared-gen/blogs/austin/theticker/entries/2006/09/15/freescale_to_be_bought_by_blac.html

Freescale Semiconductor, Inc., said today that it has entered into a definitive merger agreement to be acquired by a private equity consortium in a transaction with a total equity value of $17.6 billion.

The consortium is led by The Blackstone Group, and includes The Carlyle Group, Permira Funds and Texas Pacific Group. Under the terms of the merger agreement, the consortium will acquire all of the outstanding Class A and Class B shares of Freescale for $40 per share in cash, representing a premium of approximately 36% over Freescale’s average closing share price during the 30 trading days ended September 8, 2006. The company first acknowledged it was in discussions with third parties regarding a possible transaction on September 11, 2006. The board of directors of Freescale has unanimously approved the merger agreement and resolved to recommend that Freescale’s stockholders adopt the agreement. There is no financing condition to the obligations of the private equity consortium to consummate the transaction, and equity and debt commitments for the full amount of the merger consideration have been received. It is currently anticipated that substantially all of the company’s outstanding Notes will either be tendered for or repaid.


http://www.freescale.com/
Freescale is making the world a smarter place with leading embedded semiconductor solutions for cars, mobile phones, networks and more.

http://www.freescale.com/webapp/sps/site/homepage.jsp?nodeId=06
About Freescale

[azmouse]

1. My husband is employed by Freescale.

We have no idea what this means for his job yet. Even with this 'great economy' that * keeps touting, my husband doesn't know if there are any other jobs available to him. It's got him very nervous for his future.

[WhiteTara]

2. depends what he is willing to do for money

Carlyle and embedded technology, I would be concerned about what instruments of our destruction he would be required to make. Tinfoil hat in place :tinfoilhat:

Reminds me of the Patpong Sisters (sex workers) in Bangkok. They couldn't use condoms because the johns didn't like it, and they needed the money and in their real fear of starving to death, they died from aids. What does that mean? Damned if I know...maybe that we are all damned...time for my happy pills I think.

Of course, I am just wildly speculating what the Carlyle Group would want with the company.

Good luck to your husband. As my friends always remind me, when one door closes another opens. Maybe new age platitudes, but sincerely I wish you all well in this difficult time.

[azmouse]

4. Good question.

He makes terrific money working there. My husband has speculated this week that whoever buys the company will want to dismantle it as seen in the movie Wall Street. That means thousands of well-paid people out of work and very few companies here in the Phoenix area to find employment with.

And you make a good point. Even if the company is kept intact, should, in fact, could a liberal Democrat work for such a company with a clear conscience?

Thank you for the good luck wishes! We'll need them.

[flyarm]

3. thats why i posted it ..17 + billion $$$ for this company??

what does it mean..does anyone here understand this??

cars..mobile phones..computer semiconductor chips??

i am not computer savy ..or any tech savy..but i figured someone here would be able to see where this is going...

fly

[azmouse]

5. If I hear something from my husband about where the sale is going

I'll let you know. At this point it's anyone's guess what it means or what will happen.

[helderheid]

6. K & R