On a fully diluted equity-value basis, the transaction is valued at approximately CHF 214 million. This represents a 63.0% premium over Micronas' closing share price on December 16, 2015, the trading day immediately preceding the pre-announcement of the offer, and a 69.7% premium to the volume weighted average price during the last 60 trading days prior to pre-announcement of the offer.

TDK is endeavoring to further expand earnings from its five priority businesses in the three priority markets of automobiles, industrial material and ICT.

Micronas is a supplier of hall-effect sensors for the automotive industry with more than 30 years automotive experience.

This acquisition will further expand TDK's sensor business by combining its magnetic sensor business, with strengths in magnetic materials, and Micronas' products, technologies, and expertise, in particular in hall sensors. By fully harnessing synergies between the two companies, TDK will be able to provide a more detailed response to customers and aims to increase its competitiveness in the global market and to expand its business.

Takehiro Kamigama, President and CEO of TDK Corporation comments: "Thanks to an extensive experience in the automotive industry and considerable human talent within Micronas, we are able to significantly strengthen our magnetics technology capabilities as TDK's core technology and we also intend to develop a new business field".

Shigenao Ishiguro, Senior Vice President Corporate Officer and CEO of Magnetic Heads and Sensors Business Company of TDK comments: "We believe this acquisition is a perfect combination that enables complementarities from production to sales within both companies. TDK aims to be the leading company in the magnetic sensor market".

The Board of Directors of Micronas has unanimously resolved to support the public tender offer by TDK and to recommend that Micronas' shareholders to accept TDK's public tender offer. The Board noted that a combination with TDK has significant strategic, operational and financial advantages for Micronas.

Heinrich W. Kreutzer, Chairman of the Board of Directors of Micronas comments: "With the combination of TDK and Micronas we will get access to resources of TDK which will allow us to develop innovative new products combining, in particular, TDK's MR-expertise with Micronas expertise in hall sensors. We are excited to be part of TDK and become TDK's sensor competence center in the future."