Siliconix (NASDAQ:SILI)
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Vishay Notes Development in Shareholder Litigation Relating to
Pending Siliconix Offer
MALVERN, Pa., April 25 /PRNewswire-FirstCall/ -- Vishay Intertechnology, Inc.
(NYSE:VSH) indicated that, subsequent to its announcement of an agreement in
principle to settle certain litigation relating to Vishay's pending offer to
acquire the common stock of Siliconix incorporated (NASDAQ:SILI) not owned by
Vishay, which had been negotiated with Plaintiffs' Lead Counsel in the
consolidated action in Delaware Court of Chancery, the plaintiff in the
purported class action making similar allegations in California state court
filed, on April 22, 2005, a first amended complaint as well as a motion for a
preliminary injunction to enjoin the tender offer and an ex parte application
for expedited discovery and an expedited hearing on the preliminary injunction
motion. The ex parte application is scheduled to be heard on April 25, 2005.
Vishay expects to file its opposition to this application on April 25, 2005, as
well.
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, and transducers).
Vishay's components can be found in products manufactured in a very broad range
of industries worldwide. Vishay is headquartered in Malvern, Pennsylvania, and
has operations in 17 countries employing over 25,000 people. Vishay can be
found on the Internet at http://www.vishay.com/.
Contact: Richard N. Grubb,
Executive Vice President and
Chief Financial Officer
610-644-1300
DATASOURCE: Vishay Intertechnology, Inc.
CONTACT: Richard N. Grubb, Executive Vice President and Chief Financial
Officer, Vishay Intertechnology, +1-610-644-1300
Web site: http://www.vishay.com/