Cypress Semiconductor Corporation (NASDAQ:CY) Files An 8-K Other Events
Item 8.01 Other Events
On June 3, 2019, in connection with the announcement of the proposed acquisition of Cypress Semiconductor Corporation (Cypress) by Infineon Technologies AG, a stock corporation (Aktiengesellschaft) organized under the laws of the Federal Republic of Germany (Infineon and, the proposed acquisition, the Merger), Hassane El-Khoury, the President and Chief Executive Officer of Cypress, sent a Welcome Letter from Infineon by email to Cypresss employees (the Welcome Letter). The Welcome Letter was first used or made available on June 3, 2019. A copy of the Welcome Letter is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to the proposed transaction and the Merger of IFX Merger Sub Inc. (Merger Sub), a wholly owned subsidiary of Infineon, with and into Cypress on the terms and subject to the conditions set forth in the Agreement and Plan of Merger, dated as of June 3, 2019 (the Merger Agreement), by and among Cypress, Infineon and Merger Sub, the benefits of the proposed transaction and the anticipated timing of the proposed transaction. Forward-looking statements can be generally identified by the use of words such as anticipate, believe, plan, project, estimate, forecast, expect, should, intend, may, could, will, would, outlook, future, trend, goal, target, and similar expressions or expressions of the negative of these terms. These statements reflect only Cypresss current expectations and are not guarantees of future performance or results. Forward-looking information involves risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such statements. Specific factors that could cause actual results to differ from results contemplated by forward-looking statements include, among others, the occurrence of any event, development, condition, state of facts, change, effect or other circumstances that could give rise to the termination of the Merger Agreement, the inability to complete the Merger due to the failure to obtain stockholder approval for the Merger or the failure to satisfy other conditions to completion of the Merger, including that a governmental authority may prohibit, delay or refuse to grant approval for the consummation of the transaction; risks regarding the failure of Infineon to obtain the necessary financing to complete the Merger; risks related to disruption of managements attention from Cypresss ongoing business operations due to the transaction; the effect of the announcement of the Merger on Cypresss relationships, operating results and business generally; the risk that certain approvals or consents will not be received in a timely manner or that the Merger will not be consummated in a timely manner; the risk of exceeding the expected costs of the Merger; adverse changes in U.S. and non-U.S. governmental laws and regulations; adverse developments in Cypresss relationships with its employees; capital market conditions, including availability of funding sources for us; changes in our credit ratings; risks related to our indebtedness, including our ability to meet certain financial covenants in our debt instruments; the risk of litigation, including stockholder litigation in connection with the proposed transaction,