INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence...

23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to § 240.14a-12 MICROSEMI CORPORATION (Name of Registrant as Specified in its Charter) MICROCHIP TECHNOLOGY INCORPORATED (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies:

Transcript of INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence...

Page 1: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

(Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrant ☐ Filed by a Party other than the Registrant ☒

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☐ Definitive Proxy Statement

☐ Definitive Additional Materials

☒ Soliciting Material Pursuant to § 240.14a-12

MICROSEMI CORPORATION (Name of Registrant as Specified in its Charter)

MICROCHIP TECHNOLOGY INCORPORATED

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒ No fee required.

☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

(1) Title of each class of securities to which transaction applies:

(2) Aggregate number of securities to which transaction applies:

Page 2: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount

on which the filing fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

☐ Fee paid previously with preliminary materials.

☐ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the

offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the

date of its filing.

(1) Amount Previously Paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing Party:

(4) Date Filed:

Page 3: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

On March 1, 2018, Microchip Technology Incorporated will hold an Analyst and Investor Day Conference at which Microchip’s

pending acquisition of Microsemi Corporation and other matters will be discussed. A copy of the presentation slides from the

conference that relate to the pending acquisition of Microsemi is below. Microchip may use some of all of such slides at other

presentations to employees, stockholders or other parties. Such materials may also be made available to such persons in electronic or

paper form.

Page 4: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection
Page 5: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

ate

me

nts

rega

rdin

g th

e f

utu

re

fin

anc

ial p

erform

anc

e o

f th

e c

om

pa

ny o

r future e

ve

nts, in

clu

din

g o

ur s

tra

tegy, g

row

th d

riv

ers, i

ndustry

outl

ook, i

ndustry

tre

nds, m

arke

t siz

e and

our f

ina

nc

ial m

ode

l. We

will

als

o m

ake p

roje

ctio

ns o

r o

the

r f

orw

ard-lo

okin

g s

tate

me

nts r

eg

ardin

g o

ur p

ending a

cq

uis

itio

n o

f M

icrose

mi in

clu

din

g dea

l tim

ing, d

ea

l bene

fit

s, s

yne

rgie

s,

inte

gra

tion

pla

ns, p

lans to

fin

an

ce t

he

tran

sa

ctio

n, d

ea

l ac

cre

tion

and

pro-form

a f

ina

nc

ial i

nform

atio

n fo

r th

e tr

ansa

ctio

n.

We

wish to

ca

uti

on y

ou th

at s

uch

sta

tem

ents a

re j

ust p

redic

tions a

nd th

at a

ctu

al e

ve

nts

or

results

ma

y d

iffe

r ma

teri

ally

. Th

ese s

tate

me

nts

are

subjec

t to a

num

be

r of r

isk

s a

nd u

nce

rta

intie

s, in

cludin

g th

e a

ctu

al ti

min

g o

f th

e c

losin

g o

f t

he M

icro

se

mi a

cq

uisit

ion

, th

e s

atis

fa

ctio

n o

f th

e c

on

ditio

ns to

clo

sin

g in

the M

icro

se

mi

ac

qu

isiti

on

agre

em

en

t, any

term

in

atio

n o

f th

e M

icro

sem

i ac

qu

isitio

n a

gre

em

en

t, th

e e

ffe

ct o

f th

e a

cqu

isiti

on

on

Mic

ro

ch

ip’s a

nd

Mic

ro

se

mi’

s e

xisti

ng

relatio

nsh

ips w

ith c

usto

mers a

nd

ven

do

rs a

nd

their o

pera

ting

re

su

lts a

nd

bu

sin

esse

s; t

he

co

sts

an

d o

utc

om

e o

f an

y lit

iga

tion

inv

olv

ing

Mic

ro

ch

ip, M

icro

se

mi o

r th

e a

cq

uis

itio

n tr

an

sa

ctio

n,

ou

r a

bili

ty to

su

cce

ssfu

lly i

nte

gra

te th

e o

pe

ratio

ns a

nd

em

plo

ye

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tain

ke

y e

mp

lo

ye

es a

nd

cu

sto

mers a

nd

oth

erw

ise

re

aliz

e t

he

ex

pec

ted

sy

ne

rgie

s a

nd b

en

efits

of o

ur M

icrose

mi a

cq

uis

itio

n; th

e i

mpa

ct o

f a

ny

futu

re s

ign

ific

ant a

cq

uis

itions t

hat w

e m

ay m

ak

e;

any

ec

ono

mic

un

ce

rta

inty

due

to m

one

tary p

olic

y, p

oliti

ca

l or o

the

r is

su

es in

the U

.S. o

r inte

rna

tion

ally

, an

y u

nex

pec

ted f

luctu

atio

ns o

r w

eakn

ess in

the

U.S

. and

glo

ba

l e

co

no

mie

s (

includin

g C

hina

), cha

ng

es i

n d

em

an

d or

ma

rk

et a

cc

epta

nc

e o

f our p

roduc

ts a

nd

the

prod

uc

ts o

f o

ur c

usto

me

rs; c

ha

nge

s in

U.S

. corpora

te ta

x l

aw

s a

s a

re

sult o

f th

e T

ax

Cu

ts a

nd J

obs A

ct o

f 2

01

7 o

r o

the

r f

utu

re

leg

isla

tion

, fo

reig

n c

urre

nc

y e

ffec

ts on o

ur b

usin

ess; th

e m

ix o

f in

ve

nto

ry

we

hold a

nd

our a

bil

ity to

sa

tisfy

sho

rt-t

erm

orde

rs f

rom

our i

nve

nto

ry; c

han

ges in

utili

za

tio

n o

f o

ur m

an

ufac

turing

liti

ga

tion

or o

the

r m

att

ers in

volvin

g in

tell

ec

tual p

rope

rty

, custom

ers, o

r o

ther i

ssue

s; d

isruptio

ns in

ou

r busin

ess o

r th

e b

usin

esse

s o

f o

ur

cu

sto

mers o

r supplie

rs d

ue

to n

atura

l dis

aste

rs (

inclu

din

g a

ny f

loods in

Th

aila

nd), te

rro

rist a

ctiv

ity

, arm

ed c

onflic

t, wa

r, w

orld

wid

e o

il price

s a

nd

supp

ly, p

ublic

he

alth

conc

ern

s o

r d

isru

ptio

ns in

the

tra

nspo

rta

tio

n s

yste

m; a

nd g

en

era

l econom

ic, in

du

str

y o

r po

litic

al c

ondit

ion

s in

the U

nite

d S

tate

s o

r i

nte

rnatio

na

lly. A

ctu

al r

esu

lts

may dif

fer m

ateria

lly f

ro

m t

he e

xpec

ted

re

sults

. For a

de

taile

d d

isc

ussio

n o

f th

ese

an

d o

the

r ri

sk f

actors, p

lea

se

refe

r to

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rochip's

an

d M

icrose

mi’

s f

ilings o

n F

orm

s 1

0-K

, 10-Q

an

d 8

-K

. You c

an o

btain c

opie

s o

f Form

s 1

0-K

, 10-Q

, 8-K

an

d o

the

r r

elev

an

t d

oc

um

en

ts f

or f

ree

at M

icro

chip's w

ebsite

(w

ww

.microc

hip.c

om

), M

icrosem

i’s w

ebsite

(w

ww

.mic

rose

mi.c

om

) o

r th

e S

EC

's w

ebsite

(w

ww

.se

c.gov) o

r f

rom

com

me

rcial d

oc

um

en

t re

triev

al

serv

ice

s.

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ese d

oc

um

en

ts c

on

tain

an

d i

de

ntif

y o

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r im

po

rta

nt f

acto

rs th

at

co

uld

ca

use

ou

r a

ctu

al r

esu

lts to

diffe

r m

ate

ria

lly

fro

m th

ose

co

nta

ine

d i

n o

ur p

ro

jec

tion

s o

r f

orw

ard

-loo

kin

g s

tate

men

ts. Y

ou

are

cau

tion

ed

n

ot t

o p

lac

e u

ndu

e r

elia

nc

e o

n o

ur f

orw

ard

-lo

ok

ing

sta

tem

en

ts, w

hich

sp

eak

on

ly a

s o

f th

e d

ate

suc

h s

tatem

en

ts a

re

ma

de

. We

do

no

t u

nd

erta

ke

an

y o

blig

atio

n to

pub

licly u

pd

ate

any

fo

rw

ard

-lo

oking s

tatem

en

ts t

o r

efle

ct e

ve

nts

, c

irc

um

sta

nc

es o

r n

ew

inform

atio

n a

fte

r th

is p

resen

tatio

n o

r to

re

flec

t th

e o

ccu

rre

nc

e of

un

antic

ipated ev

ents. A

dditio

nal I

nfo

rma

tion

an

d W

he

re to

Find I

t In c

on

ne

ctio

n w

ith

the

propo

sed

ac

quisit

ion, M

icrose

mi w

ill fi

le a

proxy

statem

ent a

nd o

the

r re

late

d d

ocum

ents

with

the

SE

C. I

NV

ES

TO

RS

AN

D S

TO

CK

HO

LD

ER

S A

RE

AD

VIS

ED

TO

RE

AD

TH

ES

E D

OC

UM

EN

TS

WH

EN

TH

EY

BE

CO

ME

AV

AIL

AB

LE

BE

CA

USE

TH

EY

WIL

L C

ON

TA

IN

IM

PO

RT

AN

T IN

FO

RM

AT

IO

N. I

nv

esto

rs a

nd

sto

ck

hold

ers m

ay

obta

in a f

re

e c

opy

of th

ese

doc

um

en

ts (

whe

n a

va

ilab

le) a

nd

other d

ocu

me

nts

fi

led b

y M

icrose

mi a

t th

e S

ec

tors

an

d e

xec

utiv

e o

ffic

ers o

f Mic

roch

ip is

also

include

d in

Mic

roc

hip

's p

roxy

sta

tem

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or

its 2

017 A

nn

ua

l Me

etin

g o

f S

toc

khold

ers, w

hic

h w

as f

iled w

ith

the S

EC

on J

uly

13

, 2017.

Ad

dit

iona

l in

form

atio

n r

ega

rdin

g th

e d

ire

cto

rs a

nd exe

cuti

ve offi

ce

rs o

f M

icro

sem

i is a

lso i

nc

lude

d i

n M

icrose

mi’

s p

roxy sta

tem

en

t for i

ts 2

018 A

nnu

al M

eetin

g o

f Sto

ck

hold

ers, w

hich

was fi

led w

ith th

e S

EC

on

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ce

mb

er 2

0, 2

01

7. T

he

se

do

cu

me

nts a

re a

va

ilab

le f

re

e o

f cha

rge

at th

e S

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eb

site

at w

ww

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c.g

ov

an

d a

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escrib

ed a

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e.

Page 6: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

GA

, Wir

eless, T

imin

g, A

na

log a

nd M

ixe

d-S

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l pro

duc

ts L

ea

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rship

in

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fense

, Ae

ro

spa

ce, D

ata C

ente

r a

nd C

om

munic

atio

n m

arkets –

~ 8

0%

of r

eve

nue

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rk

ets

whe

re

Mic

roc

hip

has le

ss p

ene

tra

tion F

Y2

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9/3

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ve

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om

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uro

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ug

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eet a

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n M

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se

mi w

eb

site

Page 7: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

munica

tions m

ark

ets

Expa

nds o

ur E

the

rn

et p

ortf

olio

to s

erve In

dustr

ial

IoT

, En

terpris

e a

nd C

arrie

r m

arke

ts A

dds s

pe

cia

lize

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icroc

ontrolle

rs to

se

rve t

he

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rp

ris

e S

tora

ge an

d O

ptic

al N

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ark

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nds M

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hip

’s p

ort

folio

of T

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g, L

ow

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nalog P

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er a

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ixe

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rete a

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s n

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pa

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ties t

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ca

le in

man

ufac

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g, c

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me

r re

ac

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ale

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nne

ls A

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pa

tent p

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lio o

f o

ve

r 1500 p

atents to

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hip

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tron

g I

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olio

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nifi

ca

nt E

PS

ac

cre

tion

thro

ug

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ro

wth

and

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ne

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ith e

sti

ma

ted $

30

0 m

illio

n in

syn

ergie

s in

yea

r 3

afte

r c

lose

Page 8: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

d p

ortf

olio

Spe

cia

lize

d s

olu

tions >

$32

bn S

ource

: G

artn

er/D

ata

que

st re

ports a

nd M

icroc

hip a

nd M

icrosem

i mana

ge

ment e

stim

ate

s

Page 9: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

e 2

% I

ndu

str

ial 1

1%

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putin

g 2

0%

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mm

un

icatio

ns 3

1%

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er 9

% A

erosp

ac

e &

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fense 2

9%

Mic

roc

hip

M

icrose

mi I

ndustri

al 2

7%

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pu

ting

12%

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munic

atio

ns 1

3%

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r 3%

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ed A

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motiv

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7%

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me

r 16%

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bn $

1.8

bn $

5.7

bn N

ote: R

efle

cts n

on

-GA

AP

fin

anc

ials

and

en

d m

ark

et d

iversifi

ca

tion i

s b

ase

d o

n m

an

ag

em

en

t esti

ma

tes

Page 10: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

isc

rete Po

we

r m

gm

t. CO

MB

IN

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ra

ge

FP

GA

Page 11: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

mb

er 2

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rte

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r qua

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r. M

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hip

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hip

+ M

icro

sem

i Lo

ng T

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l Re

ve

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($M

) $3,9

77 $

1,8

75 $5,8

52 G

ross M

argin

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Page 12: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 13: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 14: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

nse, A

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Page 15: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection
Page 16: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 17: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection
Page 18: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 19: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 20: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

an

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Page 21: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 22: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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Page 23: INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE … · presentation or to reflect the occurrence of unanticipated events. Additional Information and Where to Find It In connection

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