Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen OC_Formula for the clue delivery! CTOnews.com July 28 news, the American analog and radio frequency chip company MaxLinear (Miling Technology) announced in May 2022 that it plans to acquire Huirong Technology, a giant of NAND flash memory control chips, for a total price of about $3.8 billion.

However, after regulatory approval, Mailing Technology suddenly announced the termination of its acquisition of Huirong Technology yesterday, saying that the merger agreement had been terminated for Huirong reasons.

The next day, Huirong Technology responded by denying Mailing's allegations and intended to implement the merger agreement.

Huirong Technology said: "Mailing Technology claimed at the last minute that the termination of the merger agreement with Huirong Technology was null and void, reflecting that Mailing Technology refused to undertake obligations, not that Huirong Technology violated the delivery conditions. In the 15 months since the merger agreement was signed, Huirong and Mailing have obtained regulatory approval for the merger. Huirong complied with its obligations under the agreement and Huirong was not significantly adversely affected. Huirong expects that Mailing will abide by its obligations under the merger agreement and intends to actively exercise its rights under the merger agreement. "

According to CTOnews.com 's previous report, Mailing Technology announced the termination of its acquisition of Huirong Technology, saying that it terminated the merger agreement because of Huirong, and gave four reasons:

Some of the completion conditions stipulated in the merger agreement have not been met and cannot be met.

Huirong Technology has suffered sustained significant adverse effects.

Huirong Technology seriously violates the statement, warranty and commitment. And the agreement that gives the company the right of termination in the merger agreement.

In any case, the first extended external date has passed and will not be automatically extended because certain conditions in Article 6 of the merger Agreement have not been met or waived as of May 5, 2023.

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