Fenwick & West represented Actions Semiconductor Co., Ltd (Nasdaq: ACTS), one of China's leading fabless semiconductor companies that provides comprehensive portable multimedia and mobile internet system-on-a-chip (SoC) solutions for portable consumer electronics, in its previously announced “Dutch auction” tender offer. Actions Semiconductor has accepted for purchase 83,999,299 ordinary shares (including shares represented by ADSs) at a price of $23/60 per Share (or $2.30 per ADS), for an aggregate cost of approximately $32.2 million, excluding fees and expenses relating to the tender offer.
The Fenwick & West transaction team included corporate attorneys Bill Hughes and Jen Jinxin Huang and tax attorney Ora Grinberg from the firm’s U.S. offices and corporate attorneys Eva Wang and Alexandra Yin from the firm’s China offices.