InvenSense, Inc. (NYSE: INVN), a provider of MEMS sensor platforms, today announced that all necessary regulatory clearances have been received for the acquisition by TDK Corporation of InvenSense, including from the Committee on Foreign Investment in the United States (CFIUS) and all other necessary regulatory authorities, and the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired.
InvenSense will hold a special meeting of its stockholders on May 17, 2017 at 10:00 a.m. local time at the Company’s corporate headquarters at which stockholders will be asked to approve, among other items, the previously announced transaction. The companies expect to close the transaction shortly thereafter, for a total purchase price of approximately $1.3 billion in cash or $13.00 per common share. The closing is subject to the satisfaction of customary closing conditions.
InvenSense recently mailed the proxy statement and related proxy materials to stockholders holding shares as of the March 23, 2017 record date. The proxy statement and related proxy materials provide information for stockholders of InvenSense regarding the transaction and related proposals to be voted upon at the special meeting, as well as instructions for voting online, by telephone, by mail and in person.