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Conyers advises Exar Corporation on US$224 million acquisition of Integrated Memory Logic Limited

Conyers Dill & Pearman, Cayman (“Conyers”) acted for Exar Corporation (“Exar”), a New York Stock Exchange listed supplier of high-performance integrated circuits and system solutions, on its acquisition of Integrated Memory Logic Limited (“iML”), a Taiwan Stock Exchange listed provider of power management and colour calibration solutions for large and medium sized flat panel displays used in tablets and televisions.

The transaction was completed through a cash tender offer by a newly formed Cayman Islands subsidiary of Exar for the outstanding ordinary shares of iML, a company incorporated in the Cayman Islands, followed by a second step merger to acquire the remaining ordinary shares of iML not acquired through the tender offer. As a result of the transaction iML was taken private and became a wholly owned subsidiary of Exar.

Conyers worked alongside O’Melveny & Myers LLP, San Francisco office, on this transaction which gave rise to a number of complex Cayman law issues.

The Cayman team comprised Richard Fear and Kevin Butler.

 


Kevin C. Butler
Partner, Head of Cayman Islands Office and Corporate Practice

CAYMAN ISLANDS   +1 345 814 7374


Richard D. Fear
Partner

CAYMAN ISLANDS   + 1 345 814 7759


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Deals & Transactions

Conyers advises Exar Corporation on US$224 million acquisition of Integrated Memory Logic Limited

04 November 2014 Kevin C. Butler Richard D. Fear

Conyers Dill & Pearman, Cayman (“Conyers”) acted for Exar Corporation (“Exar”), a New York Stock Exchange listed supplier of high-performance integrated circuits and system solutions, on its acquisition of Integrated Memory Logic Limited (“iML”), a Taiwan Stock Exchange listed provider of power management and colour calibration solutions for large and medium sized flat panel displays used in tablets and televisions.

The transaction was completed through a cash tender offer by a newly formed Cayman Islands subsidiary of Exar for the outstanding ordinary shares of iML, a company incorporated in the Cayman Islands, followed by a second step merger to acquire the remaining ordinary shares of iML not acquired through the tender offer. As a result of the transaction iML was taken private and became a wholly owned subsidiary of Exar.

Conyers worked alongside O’Melveny & Myers LLP, San Francisco office, on this transaction which gave rise to a number of complex Cayman law issues.

The Cayman team comprised Richard Fear and Kevin Butler.

 


Kevin C. Butler
Partner, Head of Cayman Islands Office and Corporate Practice

CAYMAN ISLANDS   +1 345 814 7374


Richard D. Fear
Partner

CAYMAN ISLANDS   + 1 345 814 7759


 

expertise

Corporate


JURISDICTION(S)

Cayman Islands


International Office(s)

Cayman Islands