MaxLinear to acquire Silicon Motion for $3.8B; 48% premium, combined revenue >$2B

MAXLINEAR, INC

Per ADS consideration: $93.54 cash + 0.388 MXL shares, total $114.34 (48% premium to Apr 22 undisturbed price).
Combined company enterprise value ~$8B; MXL shareholders will own ~86%, SIMO holders ~14%.
Expected annual run-rate synergies of at least $100M within 18 months post-close; immediately accretive to non-GAAP EPS.
Transaction valued at $3.8B for SIMO; funded by combined cash ($277M) and $3.25B senior secured term loan from Wells Fargo.
Closing expected in first half 2023, subject to SIMO shareholder approval and antitrust clearance (including China).

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