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Title: |
Agreement and Plan of Merger |
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Entities: |
Citibank, NA; Citigroup Global Markets Inc.; Microsemi Corp. |
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Date: |
2006 |
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Size: |
Preview shows 39KB of 189KB total |
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Price: |
$83 |
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ID: |
#2616231 |
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Start of Preview |
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AGREEMENT AND PLAN OF MERGER
dated as of
October 24, 2006
among
POWERDSINE LTD.
MICROSEMI CORPORATION
and
PINNACLE ACQUISITION CORPORATION LTD
TABLE OF CONTENTS
| Page | ||||
| ARTICLE 1 | ||||
| DEFINITIONS | ||||
|
Section 1.01. |
Definitions |
1 | ||
|
Section 1.02. |
Other Definitional and Interpretative Provisions | 10 | ||
| ARTICLE 2 | ||||
| THE MERGER | ||||
|
Section 2.01. |
The Merger |
10 | ||
|
Section 2.02. |
Effect on Share Capital | 11 | ||
|
Section 2.03. |
Surrender and Payment | 11 | ||
|
Section 2.04. |
Equity Awards | 13 | ||
|
Section 2.05. |
Adjustments. | 16 | ||
|
Section 2.06. |
Fractional Shares | 16 | ||
|
Section 2.07. |
Withholding Rights | 16 | ||
|
Section 2.08. |
Lost Certificates | 17 | ||
| ARTICLE 3 | ||||
| THE SURVIVING COMPANY | ||||
|
Section 3.01. |
The Memorandum of Association and Articles of Association |
17 | ||
|
Section 3.02. |
Directors and Officers | 17 | ||
| ARTICLE 4 | ||||
| REPRESENTATIONS AND WARRANTIES OF THE COMPANY | ||||
|
Section 4.01. |
Corporate Existence and Power |
18 | ||
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Section 4.02. |
Corporate Authorization | 18 | ||
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Section 4.03. |
Governmental Authorization | 19 | ||
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Section 4.04. |
Non-contravention | 19 | ||
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Section 4.05. |
Capitalization | 19 | ||
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Section 4.06. |
Subsidiaries; Minority Investments | 20 | ||
|
Section 4.07. |
SEC Filings | 21 | ||
|
Section 4.08. |
Financial Statements | 22 | ||
|
Section 4.09. |
Disclosure Documents | 22 | ||
|
Section 4.10. |
Absence of Certain Changes | 23 | ||
|
Section 4.11. |
No Undisclosed Liabilities | 24 | ||
|
Section 4.12. |
Compliance with Laws | 24 | ||
|
Section 4.13. |
Litigation | 24 | ||
|
Section 4.14. |
Finders Fees | 24 | ||
|
Section 4.15. |
Opinion of Financial Advisor | 25 | ||
TABLE OF CONTENTS
(continued)
| Page | ||||
|
Section 4.16. |
Taxes | 25 | ||
|
Section 4.17. |
Employee Benefit Plans; Labor Matters |
27 | ||
|
Section 4.18. |
Environmental Matters |
30 | ||
|
Section 4.19. |
Real Property and Absence of Liens |
30 | ||
|
Section 4.20. |
Intellectual Property. |
31 | ||
|
Section 4.21. |
Material Contracts |
34 | ||
|
Section 4.22. |
Insurance |
35 | ||
|
Section 4.23. |
Antitakeover Laws |
36 | ||
|
Section 4.24. |
Insider Interests |
36 | ||
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Section 4.25. |
Privacy and Data Security |
36 | ||
|
Section 4.26. |
Grants, Incentives and Subsidies |
36 | ||
| ARTICLE 5 | ||||
| REPRESENTATIONS AND WARRANTIES OF PARENT | ||||
|
Section 5.01. |
Corporate Existence and Power |
37 | ||
|
Section 5.02. |
Corporate Authorization |
37 | ||
|
Section 5.03. |
Governmental Authorization |
38 | ||
|
Section 5.04. |
Non-contravention |
38 | ||
|
Section 5.05. |
Capitalization |
38 | ||
|
Section 5.06. |
SEC Filings |
39 | ||
|
Section 5.07. |
Financial Statements |
40 | ||
|
Section 5.08. |
Disclosure Documents |
40 | ||
|
Section 5.09. |
Absence of Certain Changes |
41 | ||
|
Section 5.10. |
No Undisclosed Liabilities |
41 | ||
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Section 5.11. |
Compliance with Laws |
42 | ||
|
Section 5.12. |
Litigation |
42 | ||
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Section 5.13. |
Share Ownership |
42 | ||
|
Section 5.14. |
Finders Fees |
42 | ||
|
Section 5.15. |
Financing |
42 | ||
| ARTICLE 6 | ||||
| COVENANTS OF THE COMPANY | ||||
|
Section 6.01. |
Conduct of the Company |
43 | ||
|
Section 6.02. |
Court Approval; Company Meetings |
45 | ||
|
Section 6.03. |
No Solicitation; Other Offers |
46 | ||
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Section 6.04. |
Affiliates |
47 | ||
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Section 6.05. |
Termination of 401(k) Plan |
48 | ||
ii
TABLE OF CONTENTS
(continued)
| Page | ||||
| ARTICLE 7 | ||||
| COVENANTS OF PARENT | ||||
|
Section 7.01. |
Conduct of Parent | 48 | ||
|
Section 7.02. |
Obligations of Merger Subsidiary | 49 | ||
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Section 7.03. |
Voting of Shares | 49 | ||
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Section 7.04. |
Agreement to Defend and Indemnify | 49 | ||
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Section 7.05. |
Employee Matters. | 51 | ||
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Section 7.06. |
Registration Statement. | 51 | ||
|
Section 7.07. |
Stock Exchange Listing | 51 | ||
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Section 7.08. |
Section 16 Matters | 52 | ||
| ARTICLE 8 | ||||
| COVENANTS OF PARENT AND THE COMPANY | ||||
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Section 8.01. |
Reasonable Best Efforts | 52 | ||
|
Section 8.02. |
Israeli Approvals | 54 | ||
|
Section 8.03. |
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