Vishay Signs Memorandum of Understanding to Settle Delaware Action Challenging Siliconix Exchange Offer
April 29 2005 - 4:10PM
PR Newswire (US)
Vishay Signs Memorandum of Understanding to Settle Delaware Action
Challenging Siliconix Exchange Offer MALVERN, Pa., April 29
/PRNewswire-FirstCall/ -- Vishay Intertechnology, Inc. (NYSE:VSH)
announced that a memorandum of understanding has been executed with
the plaintiffs in the consolidated class action litigation in
Delaware Chancery Court regarding Vishay's pending exchange offer
for the shares of Siliconix incorporated (NASDAQ:SILI) not owned by
Vishay. The MOU sets forth the terms and conditions under which the
plaintiffs, Vishay and Siliconix have agreed in principle to settle
the action. The settlement is subject to court approval. The
plaintiff in the California action challenging the exchange offer
is not a party to the MOU. As previously announced, the California
Superior court has issued a stay of that action. Vishay has
previously filed with the Securities and Exchange Commission an
amended prospectus and exchange offer statement and related
exchange offer materials. Siliconix stockholders should read the
amended exchange offer statement and the other exchange offer
materials because they contain important information. Investors can
obtain the amended exchange offer statement and other filed
documents without charge from the web site of the SEC at
http://www.sec.gov/ . Investors can also obtain the amended
exchange offer statement and all other exchange offer materials
from MacKenzie Partners, Inc., the information agent for the offer,
105 Madison Avenue, New York, New York 10016, (212) 929-5500 or
(800) 322-2885. 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, Inc., +1-610-644-1300 Web site:
http://www.vishay.com/ http://www.sec.gov/
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