Microsemi begins tender offer to acquire White Electronic Designs

IRVINE, USA: Microsemi Corp., a leading manufacturer of high performance analog mixed-signal integrated circuits and high reliability semiconductors, that it has begun its tender offer to acquire White Electronic Designs Corp.

The cash tender, executed through Rabbit Acquisition Corp., a wholly-owned subsidiary of Microsemi, is for all outstanding shares of common stock of White Electronic at a price of $7.00 per share, without interest.

The tender offer is subject to the conditions laid out in the Offer to Purchase, including minimum share tender requirements and other customary conditions. The tender offer will expire at midnight, Eastern Daylight Time, on Tuesday April 27, 2010.

Following acceptance of payment for the shares in the tender offer and completion of the transactions contemplated by the merger agreement and described in the Offer to Purchase, White Electronic will become a wholly-owned subsidiary of Microsemi.

Complete terms and conditions of the offer are described in the Offer to Purchase, the Letter of Transmittal, and other related documents filed with the SEC on March 31, 2010 by Microsemi and Rabbit Acquisition Corp.