Sipex Corp., Exar Corp. File Preliminary Proxy Statement

Exar Corp. (EXAR) filed the first amended S-4 for its merger with Sipex Corp. (SIPX) with the SEC on June 26, 2007.

As the SEC has not waived its review for this case, the timing projection will necessarily be pushed back from a potential July close, to a more probable late-August / early-September time frame. It is entirely possible that the companies will be able to obtain SEC consent with the next two weeks, which would allow the SIPX shareholder meeting and close by mid-August.

However, the holiday/vacation season may factor into deals going through the SEC in this time period, which often creates brief administrative delays. For that reason, a mid-August close is not as likely as slippage later into the summer for this deal.

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