During Tuesday’s Current trade, Shares of Micrel, Incorporated (NASDAQ:MCRL), gain 0.07% to $13.97.
Micrel, Incorporated (MCRL) declared that it intends to delist Micrel’s common stock from NASDAQ in connection with the pending acquisition of Micrel by Microchip Technology Incorporated (“Microchip”), by means of a first step merger of Mambo Acquisition Corp., a California corporation and wholly owned subsidiary of Microchip, with and into Micrel (the “Merger”), with Micrel surviving the Merger as a wholly owned subsidiary of Microchip (the “Interim Surviving Company”), and a second step merger of the Interim Surviving Company into Mambo Acquisition LLC, with Mambo Acquisition LLC surviving the second step merger as a wholly owned subsidiary of Microchip. The first step merger is expected to be completed on August 3, 2015, subject to adoption of the merger agreement by Micrel’s shareholders and certain other conditions contained in the merger agreement.
Micrel, Incorporated, together with its auxiliaries, designs, develops, manufactures, and markets analog, mixed-signal, and digital semiconductor devices primarily in North America, Asia, and Europe. It offers power conversion products, counting LDOs, DC/DC converters, analog power switches, PMICs, solid state lighting products, and FET drivers; supervisory and reference products that protect, monitor, and enhance the interface of circuitry around microcontroller and processor circuits; and general linear parts, such as op amps, thermal measurement devices, timers, and other general devices.
Shares of Microchip Technology Inc. (NASDAQ:MCHP), inclined 1.20% to $44.52, during its current trading session.
Microchip Technology Inc. (MCHP), a leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions, declared that designers using the Automotive Open System Architecture (AUTOSAR) to develop and reuse their in-vehicle software can now connect their systems to not only networking technologies such as CAN and LIN, but also to the MOST® Cooperation’s automotive-proven MOST networking technology. This means that Microchip’s MOST Intelligent Network Interface Controllers (INICs) can be used for cross-domain communication in an AUTOSAR system, such as Advanced Driver Assistance Systems (ADAS), which simplifies automotive networking and diagnostics.
AUTOSAR has developed standardized, open software architecture for automotive electronic control units, which is increasingly being applied in traditional vehicle electronic domains. For example, after the major German vehicle OEMs successfully utilized AUTOSAR in the central areas of their electrical/electronics architectures, they are now extending its use into additional domains. With the introduction of the AUTOSAR 4.x standard, most other OEMs are now also investigating or actively migrating to AUTOSAR. Therefore, it is increasingly important that the infotainment domain of a vehicle is able to support AUTOSAR, at least where an interaction with other domains is necessary.
Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications. The company offers microcontrollers, such as 8-bit, 16-bit, and 32-bit microcontrollers under the PIC brand name; and 16-bit dsPIC digital signal controllers, in addition to provides microcontrollers for automotive networking, computing, lighting, power supplies, wireless communication, and wireless audio applications.
Navistar International Corp (NYSE:NAV), during its Tuesday’s current trading session gained 4.82% to $19.13.
International Truck declared it reached a multi-year supply agreement and secured orders for 1,050 new Class 8 on-highway tractors from a leading provider of fleet and owner-operator leasing services. In addition, the customer indicated it intends to order an additional 7,950 trucks later this month for delivery through the end of 2017.
The orders would comprise primarily of International® ProStar® and LoneStar ® vehicles powered by Cummins® ISX-15 engines and spread across the next three years.
Navistar International Corporation manufactures and sells commercial and military trucks, diesel engines, and school and commercial buses; and provides service parts for trucks and diesel engines worldwide. It operates through four segments: North America Truck, North America Parts, Global Operations, and Financial Services. The company manufactures and distributes Class 4 through 8 trucks and buses in the common carrier, private carrier, government, leasing, construction, energy/petroleum, military vehicle, and student and commercial transportation markets under the International and IC brands; and designs, engineers, and produces sheet metal components, counting truck cabs.
Finally, Cumulus Media Inc (NASDAQ:CMLS), gained 1.45%, to $1.75s.
Cumulus Media Inc. (CMLS) will host a conference call on Thursday, July 30th at 4:30 PM EDT to talk about its second quarter 2015 operating results. The call will be open to the general public on a listen-only basis. A press release containing a summary of these results will be issued before the call at about 4:00 PM EDT on July 30, 2015.
Cumulus Media Inc. owns and operates radio stations in the United States. It sells commercial advertising time to local, national, and network clients on its radio stations. The company owns and operates about 460 stations in 90 United States media markets; and about 8,500 broadcast radio associates and various digital channels. As of December 31, 2014, it offered sales and marketing services for 11 radio stations in the United States under local marketing agreements.
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