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
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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 Suppliers:
As you may know, Conexant signed a definitive agreement to sell our company to Standard
Microsystems Corporation (SMSC), a leading fabless 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. When the transaction is completed, we expect the
combined company to deliver even stronger financial performance over time. A press release with
additional information is posted on our Web site at http://ir.conexant.com/releases.cfm.
Members of Conexants and SMSCs operations teams are already developing a plan that will make the
integration of our business with SMSC seamless. Together, we will work with you to transfer
pertinent supply agreements to SMSC at the appropriate time.
A Conexant representative will be contacting you soon to introduce your new SMSC contact and answer
any questions you may have. Operational business processes remain unchanged throughout the
transition period.
I am enthusiastic about the prospects of the combined company and your continued role in our
success, and I look forward to providing you with more information as we work through the
transition. Thank you for your support.
Sincerely,
Sailesh Chittipeddi
President and Chief Operating Officer
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.