Featured Articles

Intel refreshes CPU roadmap

Intel refreshes CPU roadmap

Intel has revealed an update to its CPU roadmap and some things have changed in 2015 and beyond. Let’s start with the…

More...
Hands on: Nvidia Shield Tablet with Android 5.0

Hands on: Nvidia Shield Tablet with Android 5.0

We broke the news of Nvidia's ambitious gaming tablet plans back in May and now the Shield tablet got a bit…

More...
Nokia N1 Android tablet ships in Q1 2015

Nokia N1 Android tablet ships in Q1 2015

Nokia has announced its first Android tablet and when we say Nokia, we don’t mean Microsoft. The Nokia N1 was designed…

More...
Marvell launches octa-core 64-bit PXA1936

Marvell launches octa-core 64-bit PXA1936

Marvell is better known for its storage controllers, but the company doesn’t want to give up on the smartphone and…

More...
Nvidia GTX 970 SLI tested

Nvidia GTX 970 SLI tested

Nvidia recently released two new graphics cards based on its latest Maxwell GPU architecture, with exceptional performance-per-watt. The Geforce GTX 970…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 16 January 2014 10:36

Marvell not talking to financiers

Written by Nick Farrell



Agents of Shield say nothing to see here

Chipmaker Marvell has said it is not in talks with KKR on a major transaction such as a buyout. KKR reported a 6.8 percent stake in the company two weeks ago making many think that it might be headed for a buyout.

The chipmaker made the disclosure in a filing with the U.S. District Court in Pittsburgh, where it is defending against a lawsuit by Carnegie Mellon University alleging patent infringement in connection with computer disk drives. The case had not been going well. US District Judge Nora Barry Fischer rejected Marvell's bid to cut $620 million from a $1.17 billion jury verdict against the company.

Carnegie Mellon claimed that the KKR investment might herald "extraordinary corporate transactions" that could threaten the university's ability to collect a final judgment. However the court was told that Marvell has no present plans for an extraordinary corporate transaction such as a buyout, merger, reorganisation or liquidation and has not been in negotiations with KKR concerning such a transaction.

Marvell claimed that KKR's recent vote of confidence, expressed by increasing its investment in Marvell, only provides further testament to Marvell's financial strength.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments