Back in October we told you about a controversial new secret arbitration process set up by the Delaware Chancery Court. In what appears to be the first case to go to arbitration under that process, two companies that make devices for smartphones have settled dueling lawsuits after two days of proceedings.
On Wednesday Skyworks Solutions and Advanced Analogic Technologies announced that they had agreed to an amended merger agreement in which Skyworks will buy AATI for $256 million in cash. Skyworks had in May agreed to a stock-and-cash purchase that was priced slightly higher at $262.5 million. But it backed out of that deal, claiming that AATI had breached a covenant by not properly accounting for revenue.
