LSI Logic to hold March 29 shareholders' meeting to vote on Agere merger

By Jennifer Chiou

New York, Jan. 26 - LSI Logic Corp. announced it will hold a shareholders' meeting on March 29 to approve its proposed merger with Agere Systems Inc.

On Jan. 19, LSI Logic said that the Hart-Scott-Rodino Antitrust Improvements Act waiting period expired.

The two companies previously announced a definitive merger agreement on Dec. 4 to combine LSI Logic and Agere Systems in an all-stock transaction valued at $4 billion.

Agere shareholders will receive 2.16 shares of LSI for each share of Agere, or about $22.81 per share based on Dec. 1 closing stock prices.

The newly combined company will operate under the LSI Logic Corp. name and be led by LSI president and chief executive officer Abhi Talwalkar.

LSI Logic is a Milpitas, Calif., silicon-to-systems services provider for digital information. Allentown, Pa.-based Agere Systems provides semiconductors and software products for storage, mobility and networking markets.

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