Intersil, Elantec Shareholders To Vote On Deal May 14

WASHINGTON -(Dow Jones)- Shareholders of Intersil Corp. (ISIL) and Elantec Semiconductor Inc. (ELNT), on record of as of the close of business Thursday, are scheduled to vote on the companies' proposed merger May 14 , according to a registration statement filed Thursday with the Securities and Exchange Commission.

Intersil will hold its meeting at 9:00 a.m. PDT in Irvine , Calif.

Elantec Semiconductor will hold its meeting at 9:00 a.m. PDT in Milpitas, Calif.

Under the agreement, Elantec shareholders will receive 1.24 shares of Intersil stock and $8 cash for each Elantec share. The transaction is valued about $1.4 billion.

Intersil, based in Palm Bay, Fla. , makes semiconductors and integrated circuits.

Elantec Semiconductor, based in Milpitas, designs, makes analog ICs.

-Ben Siegel; Dow Jones Newswires; 202-628-7689