Silicon Motion Terminates Merger Agreement with MaxLinear and Intends to Pursue Substantial Damages in Excess of the Agreement's Termination Fee Due to MaxLinear's Willful and Material Breaches of the Merger Agreement
Will Proceed with Arbitration in the Singapore International Arbitration Centre, as Dictated by the Parties' Merger Agreement Notified MaxLinear of its Position that MaxLinear's Willful and Material Breaches of the Merger Agreement Prevented the Merger from Being Completed by the Outside Date TAIPEI, Taiwan and MILPITAS, Calif., Aug. 16, 2023 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NASDAQ:SIMO) ("Silicon Motion" or the "Company") today issued a written notice to MaxLinear, Inc. (NASDAQ:MXL) ("MaxLinear"), terminating the Agreement and Plan of Merger between the parties dated as of May 5, 2022 (the "Merger Agreement"1). Silicon Motion's position is that MaxLinear
