Vishay Intertechnology Issues Statement in Response to Open Letter Submitted by Mountaineer Partners
April 23, 2024 at 04:54 pm IST
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On April 23, 2024, Vishay Intertechnology Inc announced that it has issued a statement from its Board of Directors in response to the press release issued on April 22, 2024, by Mountaineer Partners Management, LLC, in which Mountaineer published its letter to the Board of Directors urging the Board to consider adopting and implementing a $600 million accelerated share repurchase. In addition, the Company stated that its CEO has held discussions with Mountaineer since his appointment to the position on January 1, 2023, and the senior management team met with stockholders at the Company?s Investor Day held on April 2, 2024, and the Company?s Board appreciates and is carefully evaluating the suggestion made by Mountaineer along with input from other stockholders to determine the course of action that is in the best interest of the Company and all stockholders.
Vishay Intertechnology, Inc. (Vishay) is engaged in manufacturing a portfolio of discrete semiconductors and passive electronic components, which supports designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Vishay designs, manufactures, and markets electronic components that cover a range of functions and technologies. Its products include commodity, non-commodity, and custom products. Vishayâs brands include Siliconix, Dale, Draloric, Beyschlag, Sfernice, MCB, UltraSource, Applied Thin-Film Products, IHLP, HiRel Systems, Sprague, Vitramon, Barry, and BCcomponents. Vishayâs semiconductors products include metal oxide semiconductor field-effect transistors (MOSFETs), diodes, and optoelectronic components. The Companyâs semiconductor components are used for a variety of functions, including power control, power conversion, signal switching, signal routing, signal blocking, two-way data transfer, and circuit isolation.
VISHAY INTERTECHNOLOGY, INC. 
