Local Company Rebuffs Hostile Takeover

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By
Muhammed El-Hasan
on October 11, 2008 12:17 PM | | Comments (0) |

International Rectifer Corp., the El Setgundo-based maker of power management computer chips, successfully rebuffed a hostile takeover bid Friday at it annual meeting.

The South Bay firm said that shareholders re-elected all three of the company's board nominees over a dissident slate of candidates nominated by Vishay Intertechnology Inc.

Malvern, Pa.-based Vishay had hoped a win by its board candidates could push International Rectifier to accept its $23-a-share purchase offer.

Shareholders also defeated Vishay's proposed bylaw amendments meant to support its takeover bid.

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This page contains a single entry by Muhammed El-Hasan published on October 11, 2008 12:17 PM.

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About Biz Waves

Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.

The primary contributor is:

Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.

You can email Muhammed at muhammad.el-hasan@dailybreeze.com

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