National Gets OK to Buy Fairchild
WASHINGTON — The federal government on Wednesday gave the go-ahead for National Semiconductor’s purchase of Fairchild Semiconductor, paving the way for the creation of the world’s sixth-largest computer chip company.
The Justice Department and Federal Trade Commission notified Santa Clara-based National that they had completed their inquiries into antitrust issues and were taking no action to block the transaction.
The speedy clearance, coming one month after National announced its $122-million bid for the pioneer Silicon Valley firm, was in sharp contrast to the prolonged and controversial government review of an earlier bid for Fairchild by Fujitsu of Japan.
In October, Fujitsu offered an estimated $200 million for control of 80% of Fairchild, a subsidiary of Schlumberger Ltd. But Fujitsu’s bid drew strong opposition from the American semiconductor industry and some Reagan Administration officials who cited national security concerns.
The antitrust review was delayed for nearly six months and still had not been concluded when Fujitsu withdrew its offer March 16, blaming the political opposition.
National President Charles E. Sporck, who was traveling in Europe when the announcement was made, earlier had described Fairchild as “a good fit.â€
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