Transactions
Aug. 1, 2000
Wilson Sonsini: PMC-SIERRA BUYS QUANTUM IN $2.3 BILLION STOCK SWAP
Santa Clara's Quantum Effect Devices Inc. has agreed to be acquired by Burnaby, British Colombia's PMC-Sierra Inc. in a deal valued at $2.3 billion.
In the stock-for-stock transaction, Quantum shareholders will receive a .385 share of PMC-Sierra for each Quantum share. The deal, which will be accounted for as a pooling of interests, is still subject to shareholder approval.
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