Loeb Partners Discloses 6.7% Stake in Takeover Target Micro Linear (MLIN)
In the filing, Loeb said it may engage in discussions with management or the Board of Directors concerning the business and future plans of the Company. Loeb also said it may in the future seek Board representations, make proposals to the Company concerning the capitalization of the Company, purchase additional Common Stock and other securities of the Issuer, sell some or all of its Common Stock, engage in short selling of or any hedging or similar transaction.
In August, Sirenza Microdevices, Inc. (Nasdaq: SMDI) signed a definitive agreement to acquire Micro Linear Corporation (Nasdaq: MLIN). Under the terms of the agreement, 0.365 of a Sirenza share will be issued for each Micro Linear share ($2.88 based on todays' SMDI price of $7.90). The acquisition is expected to close in the fourth quarter of 2006. Shares of Micro Linear are currently at $2.89.