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 Chanin Capital Partners was financial advisor to the Special Committee of the Board of Directors of Multilink Technology Corporation and rendered a fairness opinion in connection with the merger with Vitesse Semiconductor Corporation, valued at approximately $29 million.
The Special Committee of the Board of Directors of Multilink Technology Corporation retained Chanin in May 2003. Chanin rendered its opinion on June 9, 2003, and the Vitesse deal was announced on June 12, 2003. The transaction closed in the third quarter of 2003.
Highlights of the transaction include:
- Multilink shareholders received approximately $3.46 per share, a 72% premium to the 15-day closing average prior to announcement of the transaction ($2.01).
- Benefits to Multilink shareholders include ownership in a significantly larger company with greater liquidity, sponsorship and trading volume.
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