SanDisk Gets U.S. Regulatory Clearance to Acquire Msystems

Authored by Mark Hefflinger on October 4, 2006 - 1:01pm.

Milpitas, Calif. - SanDisk, a maker of flash memory data storage cards used in MP3 players, mobile phones and other devices, said on Wednesday that it has received U.S. regulatory clearance to complete its $1.3 billion acquisition of Israel's msystems. The company said that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, and the Securities and Exchange Commission (SEC) has issued a no action letter. The deal still must be approved by msystems' shareholders and Israeli courts before closing. The deal, first announced in last July, would unite a pair of flash memory pioneers with complementary products, customers and channels. Msystems specializes in flash memory systems for the mobile, portable and embedded markets.
http://biz.yahoo.com/bw/061004/20061004005906.html?.v=1
http://www.sandisk.com
http://www.m-systems.com