CSR is seeking to acquire U.S. multinational digital technology company, Zoran, for about $679 million. As part of the deal, Zoran shareholders will receive 1.85 ordinary shares of CSR in the form of American depositary shares at $13.03 per share. The deal is expected to be completed in the second quarter of 2011.
CSR will return up to $240 million to shareholders through an on-market share buyback program. JP Morgan Cazenove and Rothschild acted as the financial advisers for the buyer, while Goldman Sachs represented Zoran.
