Vishay Notes Development in Shareholder Litigation Relating to Pending Siliconix Offer
April 25 2005 - 9:02AM
PR Newswire (US)
Vishay Notes Development in Shareholder Litigation Relating to
Pending Siliconix Offer MALVERN, Pa., April 25
/PRNewswire-FirstCall/ -- Vishay Intertechnology, Inc. (NYSE:VSH)
indicated that, subsequent to its announcement of an agreement in
principle to settle certain litigation relating to Vishay's pending
offer to acquire the common stock of Siliconix incorporated
(NASDAQ:SILI) not owned by Vishay, which had been negotiated with
Plaintiffs' Lead Counsel in the consolidated action in Delaware
Court of Chancery, the plaintiff in the purported class action
making similar allegations in California state court filed, on
April 22, 2005, a first amended complaint as well as a motion for a
preliminary injunction to enjoin the tender offer and an ex parte
application for expedited discovery and an expedited hearing on the
preliminary injunction motion. The ex parte application is
scheduled to be heard on April 25, 2005. Vishay expects to file its
opposition to this application on April 25, 2005, as well. Vishay
Intertechnology, Inc., a Fortune 1,000 Company listed on the NYSE
(VSH), is one of the world's largest manufacturers of discrete
semiconductors (diodes, rectifiers, transistors, and
optoelectronics) and selected ICs, and passive electronic
components (resistors, capacitors, inductors, and transducers).
Vishay's components can be found in products manufactured in a very
broad range of industries worldwide. Vishay is headquartered in
Malvern, Pennsylvania, and has operations in 17 countries employing
over 25,000 people. Vishay can be found on the Internet at
http://www.vishay.com/. Contact: Richard N. Grubb, Executive Vice
President and Chief Financial Officer 610-644-1300 DATASOURCE:
Vishay Intertechnology, Inc. CONTACT: Richard N. Grubb, Executive
Vice President and Chief Financial Officer, Vishay Intertechnology,
+1-610-644-1300 Web site: http://www.vishay.com/
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