UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 24, 2007
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Vishay Intertechnology, Inc. |
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(Exact name of registrant as specified in its charter) |
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Delaware |
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1-7416 |
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38-1686453 |
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(State or other jurisdiction |
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(Commission |
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(I.R.S. Employer |
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63 Lancaster Avenue |
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19355-2143 |
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(Address of principal executive offices) |
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(Zip Code) |
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Registrant’s telephone number, including area code 610-644-1300 |
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(Former name or former address, if changed since last report.) |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 1.01 – Entry into a Material Definitive Agreement
Vishay Intertechnology, Inc. previously reported that it entered into agreements for the purchase of International Rectifier Corporation’s Power Control Systems (“PCS”) business.
On January 24, 2007, Vishay and International Rectifier issued press releases announcing that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the sale has expired and that Vishay and IR have mutually agreed to a closing by April 1, 2007. Previously, the projected date for closing was February 26, 2007. The agreements remain subject to customary closing conditions.
A copy of the press release issued by Vishay is included as Exhibit 99.1.
Item 9.01 – Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. |
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Description |
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99.1 |
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Press release dated January 24, 2007 |
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: January 24, 2007 |
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VISHAY INTERTECHNOLOGY, INC. |
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By: |
/s/ Richard N. Grubb |
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Name: |
Richard N. Grubb |
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Title: |
Executive Vice President and |
Exhibit 99.1
News Release
Vishay Intertechnology, Inc. and International Rectifier Announce HSR Clearance for Sale of IR’s
Power Control Systems Business to Vishay
MALVERN, Pa. and EL SEGUNDO, Calif., Jan. 24 -- Vishay Intertechnology, Inc. (NYSE: VSH) and International Rectifier Corporation (IR) (NYSE: IRF) today announced that the waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, allowing the proposed sale of IR’s Power Control Systems Business (PCS) to Vishay Intertechnology, Inc. to proceed.
On November 1, 2006, the two companies announced an agreement for the sale of IR’s PCS business to Vishay Intertechnology, Inc. The PCS business is being sold for approximately $290 million in cash.
With the final scope of transition services identified, Vishay and IR have mutually agreed to a closing by April 1, 2007. Previously, the projected date for closing was February 26, 2007. The agreement is subject to customary closing conditions.
About Vishay Intertechnology, Inc.
Vishay Intertechnology, Inc., a Fortune 1,000 Company listed on the NYSE (VSH), is one of the world’s largest manufacturers of discrete semiconductors (diodes, rectifiers, transistors, and optoelectronics and selected ICs) and passive electronic components (resistors, capacitors, inductors, sensors, and transducers). These components are used in virtually all types of electronic devices and equipment in the industrial, computing, automotive, consumer, telecommunications, military, aerospace, and medical markets. Its product innovations, successful acquisition strategy, and ability to provide “one-stop shop” service have made Vishay a global industry leader. Vishay can be found on the Internet at http://www.vishay.com.
Vishay Contact:
Investors: Peter Henrici, 610-407-4899
About International Rectifier
International Rectifier (NYSE: IRF) is a world leader in power management technology. IR’s analog, digital, and mixed signal ICs, and other advanced power management products, enable high performance computing and save energy in a wide variety of business and consumer applications. Leading manufacturers of computers, energy efficient appliances, lighting, automobiles, satellites, aircraft, and defense systems rely on IR’s power management solutions to power their next generation products. For more information, go to http://www.irf.com.
International Rectifier Contact:
Investors: Portia Switzer, 310-726-8254