Market Overview

Linear Technology Recommends Stockholders Reject "Mini-Tender Offer" by TRC Capital Corporation

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Linear Technology Corporation (NASDAQ: LLTC), a leading, independent
manufacturer of high performance linear integrated circuits, today reported
that it has been notified of an unsolicited "mini-tender offer" made by TRC
Capital Corporation to the stockholders of the Company to purchase up to
2,000,000 shares of the Company's common stock, or approximately 0.84% of the
Company's outstanding common stock. TRC Capital's offer price of $45.80 per
share is approximately 4.44 percent below the Company's closing price
of $47.93 on February 12, 2015, the day prior to the commencement date of the
offer.

The Company does not endorse TRC Capital's mini-tender offer and recommends
that stockholders reject the offer and not tender their shares. TRC
Capital's offer is at a price below the current market price of the Company's
common stock and is subject to the satisfaction of certain conditions. The
Company further recommends that stockholders who have already tendered shares
in the offer withdraw their shares by providing written notice as described
in TRC Capital's offering documents prior to the expiration of the offer,
which is currently scheduled for 12:01 a.m. Eastern time on Tuesday, March 17,
2015.

TRC Capital has made many similar mini-tender offers for shares of other
companies. The Company urges investors to obtain current market quotations for
their shares, consult with their brokers or financial advisers, and exercise
caution with respect to TRC Capital's offer. The Company is not associated in
any way with TRC Capital, its mini-tender offer, or the offer documentation.

Because TRC Capital's mini-tender offer is for less than 5 percent of the
Company's outstanding shares, it is not subject to many of the disclosure and
procedural requirements of Securities and Exchange Commission (SEC) rules that
are designed to protect investors. The SEC has issued an investor alert
regarding mini-tender offers, noting that "some bidders make mini-tender
offers at below-market prices, hoping that they will catch investors off guard
if the investors do not compare the offer price to the current market price."
The SEC's investor alert can be found on the SEC website
at http://www.sec.gov/investor/pubs/minitend.htm.

Posted-In: News Press Releases

 

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