TDK Corporation and Micronas Semiconductor Holding AG announced on December 17, 2015 that they entered into a definitive agreement pursuant to which TDK Corporation will launch an all cash public tender offer for all publicly held registered shares of Micronas for CHF 7.50 per share. On a fully diluted equity value basis, the transaction is valued at approximately CHF 214 million. This represents a 63.0% premium over Micronas’s closing share price on December 16, 2015, the trading day immediately preceding the pre-announcement of the offer, and a 69.7% premium to the volume weighted average price during the last 60 trading days prior to pre-announcement of the offer.

Homburger advised TDK Corporation as transaction lead counsel. The Homburger team was led by partner David Oser (Corporate | M&A) and comprised counsel Micha Fankhauser, associate Karin Mattle and junior associate Gaspard Genton (all Corporate | M&A), partner Gerald Brei (Competition | Regulatory), partner Gregor Bühler (IP | IT) and partner Stefan Oesterhelt (Tax).