ON Semiconductor, Fairchild Semiconductor Trading Higher Following Extension Of Tender Offer

Shares of ON Semiconductor Corp ON were trading higher by nearly 2 percent at $8.42 early Thursday afternoon after the company extended its tender offer to acquire all the outstanding shares of Fairchild Semiconductor Intl Inc FCS for $20 per share.

ON Semiconductor extended its tender offer until February 4, 2016 at midnight. All other terms and conditions remain unchanged.

ON Semiconductor also noted that as of January 20, 2016, approximately 7.968 million shares of common stock of Fairchild have been validly tendered and not properly withdrawn, representing approximately 7 percent of the outstanding shares of Fairchild.

Shares of Fairchild were trading higher by 1.16 percent at $20.44 early Thursday afternoon.