Proposed acquisition of Wolfspeed
Neubiberg – 8 February 2017 - Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) announces the following regarding its proposed acquisition of Wolfspeed Power & RF and the related substrate business (“Wolfspeed”) from Cree Inc. (Nasdaq: CREE):
The Committee on Foreign Investment in the United States (CFIUS) informed Infineon and Cree that the transaction poses a risk to the national security of the United States. Furthermore, CFIUS had not identified any mitigation measures that it believed would adequately mitigate the particular national security risks posed by the transaction.
Against this background, Infineon is of the opinion, that there is a considerable risk that the transaction, as agreed, is not going to close.
Infineon remains committed to work closely together with both CFIUS and Cree to find solutions that would mitigate the concerns raised by CFIUS.
D I S C L A I M E R
This Ad hoc release contains forward-looking statements about the business, financial condition and earnings performance of the Infineon Group.
These statements are based on assumptions and projections resting upon currently available information and present estimates. They are subject to a multitude of uncertainties and risks. Actual business development may therefore differ materially from what has been expected.
Beyond disclosure requirements stipulated by law, Infineon does not undertake any obligation to update forward-looking statements.
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2016 fiscal year (ending September 30), the Company reported sales of about €6.5 billion with some 36,300 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).