Zarlink

There is nothing in Zarlink's circular that would lead us to conclude there is additional value in the company that was not understood by us, or the market, prior to our bid.

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MSCC - News, a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, commented on the directors' circular issued earlier today by Zarlink Semiconductor Inc.

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Continued Peterson, Six weeks after initiating a strategic review process and over three months after retaining its financial advisors on May 24, Zarlink's board has still not disclosed any alternative to our cash offer.

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This environment only serves to reinforce the attractiveness of our offer which delivers immediate liquidity, certainty and a 40 percent premium to the pre-bid value of Zarlink's shares.

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The Offers represent a 40 percent premium over the closing price of Zarlink's common shares on the TSX on July 19, 2011, the last trading day prior to the announcement of Microsemi's proposal to acquire the common shares, and a 24 percent premium over the closing price of the debentures of Zarlink on the Toronto Stock Exchange TSX on the same day.

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Amidst the backdrop of this difficult macroeconomic environment and stock market volatility, we believe that Zarlink's shareholders should carefully consider Microsemi's offer and tender their shares before it expires on September 22, 2011.

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"Zarlink", and all of the outstanding 6 percent unsecured, subordinated convertible debentures maturing on September 30, 2012 of Zarlink.

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The Offeror delivered its Offers and take-over bid circular together, the "Circular" to Zarlink's principal office and file the Circular with the Canadian securities regulators and the U.S. Securities and Exchange Commission.

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ULC (the "Offeror"), an indirect wholly-owned subsidiary of Microsemi, had formally commenced its offers (the "Offers") to acquire all of the outstanding common shares, together with associated rights (the "SRP Rights") outstanding under the shareholder rights plan of Zarlink Semiconductor Inc.

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The offer of CAD $3.35 per share is firm, and despite what Zarlink suggests, our financing commitment is firmly in place, unaffected by recent market volatility.

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