Achronix Agrees To End $2B Tie-Up With Blank Check Biz - Law360

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Law360 (July 12, 2021, 7:36 PM EDT) -- Semiconductor business Achronix said Monday it had mutually agreed to end its go-public deal with blank check company ACE that would've valued the combined entity at $2.1 billion after the sides said they could not complete the deal in time.

California-based Achronix Semiconductor Corp. said in the joint statement with ACE Convergence Acquisition Corp. that their deal, announced in January, would not be able to close by the July 15 deadline for certain regulatory approvals "or some reasonable time thereafter."

As the decision to end the deal was mutual, neither side will pay a breakup fee, the statement said.

"Despite our...

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Achronix Agrees To End $2B Tie-Up With Blank Check Biz - Law360
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