According to the Wall Street journal reported that China's tsinghua holdings shares held Marvell, but didn't explain the stake. The silicon valley chip company in the near future just because of such problems as accounting research, with a wave of management personnel change.
Tsinghua holdings is submitted to the federal trade commission on May 6, file, shares held Marvell, because the federal trade commission according to the regulation of antitrust law, as long as there is a certain size of transactions, you must declare; For after the antitrust review of merger and acquisition proposal, federal committee requires notifiable transactions threshold of $78.2 million.
If buy a stake of more than 5% of listed companies, in the United States must be declared to the securities and exchange commission, however, has not yet been submitted to the securities and exchange commission so far in tsinghua holdings file.
Marvell spokesman replies, it is unclear whether the equity of tsinghua holdings amount, but he points out that as far as the company know, tsinghua holdings stake purpose is for investment.
Thunis m&a action continuously
In fact, bloomberg has just reported, tsinghua holdings and Marvell a case just for federal approval did not reveal, is understood to be associated with competition rules.
Interest in the semiconductor investment in China, and also it's no secret that since 2014 China published semiconductor development outline, improve chip self-making ratio, reduce import proportion chip is a national policy. And official colour, extremely is tsinghua university tsinghua holdings subsidiary company, is a Chinese company, the most active companies to invest abroad.
Especially under the tsinghua holdings, because several overseas m&a fame thunis company. Thunis last year was to be a company merger and acquisition memory for $23 billion micron, but consider the legislature may be to stop, so forget about it. In February this year, the United States by the foreign investment commission investigation, purple light abandon originally WD (Western Digital) $3.78 billion acquisition.
In April, and investment thunis Lattice Semiconductor, scored 6% stake, to this, thunis, on the open market to achieve equity just pure investment purposes, and according to thunis on May 6, submitted to the securities and exchange commission, according to the file thunis Lattice Semiconductor equity stakes rose to 8.65%.
To this, a lawyer working with the foreign investment commission pointed out that they basically not for finishing the board seats, or to get control of the investment case for review. While Lattice Semiconductor declined to comment.
Marvell personnel change Ready to sell?
Back to the leading role of this time Marvell, the chip companies set up 20 years, has repeatedly come out from last year start to accept Chinese company merger and acquisition of information. Marvell is face troubled times, recently, in fact, a month before the time, however, the board of directors of the company just fired Marvell's husband and wife, also is the CEO Sehat Sutardja dai to the chairman.
And Marvell leaders for a long time after the dismissal, Marvell has also conducted a series of accounting research, find out the present problems, including to achieve revenue targets, business and financial personnel facing the great pressure from management, etc. And then Marvell agreed to the appointment by activist shareholders Starboard Value LP support person, as a new manager. A former Novellus Systems, executive Richard Hill was appointed Marvell dong.
Cowen & Co analyst Timothy Arcuri expectations, Marvell and change management team may be paving the way for selling the company. However, whether the U.S. government can release Marvell will sell the whole company to China is still in doubt, but, he said, may sell a stake will be allowed.
