defa14a
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant þ
Filed by a Party other than the Registrant o
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Preliminary Proxy Statement |
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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Definitive Proxy Statement |
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Soliciting Material Pursuant to Rule 14a-12 |
Conexant Systems, Inc.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
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To Our Valued Customers:
As you may already know, Conexant signed a definitive agreement to sell our company to Standard
Microsystems Corporation (SMSC), a leading semiconductor company headquartered in Hauppauge, New
York. The transaction, which is subject to the satisfaction of regulatory requirements, approval
by Conexant stockholders, and customary closing conditions, is expected to close in the first half
of calendar 2011. A press release with additional information is posted on our Web site at
http://ir.conexant.com/releases.cfm.
SMSC is a public company (NASDAQ: SMSC) that provides semiconductor solutions that enable the
proliferation of data in personal computers, automobiles, portable consumer devices, and other
applications. When the transaction is completed, SMSC will strengthen their product portfolio with
our innovative semiconductor solutions. Additional benefits include a larger, highly skilled R&D
team comprised of over 900 engineers globally focused on providing customers with semiconductor
solutions that contribute to their success. Joining forces with a larger company that shares core
competencies in analog and mixed-signal design, possesses a complementary product portfolio, and
counts many customers in common also provides the opportunity to take advantage of economies of
scale and deliver stronger financial performance over time.
I want to assure you that we remain fully committed to providing you with outstanding service and
support during the transition. In addition, our joint teams will work closely together to ensure
that the integration of our business with SMSC is as seamless as possible. Until the transaction
closes, your Conexant contacts and operational business processes remain the same.
A Conexant representative will be contacting you soon to answer any questions you may have. Im
excited about the prospects for the combined company, and I look forward to providing you with more
information as we work through the transition.
Sincerely,
Christian Scherp
Executive Vice President, Global Sales
Conexant Systems, Inc.
Additional Information About This Transaction
In connection with the proposed transaction, SMSC will file with the Securities and Exchange
Commission (the SEC) a Registration Statement on Form S-4 that will include a proxy statement of
Conexant and a prospectus of SMSC. The definitive proxy statement/prospectus will be mailed to
stockholders of Conexant. Conexant and SMSC urge investors and security holders to read the proxy
statement/prospectus regarding the proposed transaction when it becomes available because it will
contain important information about the proposed transaction. You may obtain a free copy of the
proxy statement/prospectus (when available) and other related documents filed by SMSC and Conexant
with the SEC at the SECs website at www.sec.gov. The proxy statement/prospectus (when it is
available) and other documents filed by SMSC or Conexant with the SEC relating to the proposed
transaction may also be obtained for free by accessing SMSCs website at www.smsc.com by clicking
on the link for Investor
Relations, then clicking on the link for SEC Filings or by accessing Conexants website at
www.conexant.com and clicking on the Investors link and then clicking on the link for Financial
Information and then clicking on the link for SEC Filings.
Participants in This Transaction
SMSC, Conexant and their respective directors, executive officers and certain other members of
management and employees may be deemed to be participants in the solicitation of proxies from
Conexant stockholders in connection with the proposed transaction. Information regarding the
persons who may, under the rules of the SEC, be considered participants in the solicitation of
Conexant stockholders in connection with the proposed transaction, including the interests of such
participants in the proposed transaction, will be set forth in the proxy statement/prospectus when
it is filed with the SEC. You can find information about SMSCs executive officers and directors
in SMSCs definitive proxy statement filed with the SEC on June 14, 2010. You can find information
about Conexants executive officers and directors in Conexants definitive proxy statement filed
with the SEC on December 10, 2010. You can obtain free copies of these documents from SMSC or
Conexant, respectively, using the contact information above.
Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this document are
forward-looking statements about expected future events and financial and operating results that
involve risks and uncertainties. These uncertainties may cause Conexants actual future results to
be materially different from those discussed in the forward-looking statements. These risks and
uncertainties include risks relating to the ability to obtain regulatory approvals of the
transaction on the proposed terms and schedule; the failure of Conexant stockholders to approve the
transaction; a failure to consummate or delay in consummating the merger for other reasons;
disruption from the transaction making it more difficult to maintain relationships with customers,
employees or suppliers; competition and its effect on pricing, spending, third-party relationships
and revenues; and other risks relating to Conexants business set forth in its filings with the
SEC.
Our forward looking statements are qualified in their entirety by the inherent
risks and uncertainties surrounding future. All forward-looking statements speak only as of the
date hereof and are based upon the information available to Conexant at this time. Such statements
are subject to change, and Conexant does not undertake to update such statements, except to the
extent required under applicable law and regulation. These and other risks and uncertainties are
detailed from time to time in Conexants reports filed with the SEC. Investors are advised to read
Conexants Annual Report on Form 10-K and quarterly reports on Form 10-Q filed with the SEC,
particularly those sections entitled Risk Factors, for a more complete discussion of these and
other risks and uncertainties.