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Subsequent Event
6 Months Ended
Jun. 30, 2011
Subsequent Event  
Subsequent Event

17. Subsequent Event

 

On July 20, 2011, Samsung provided the Company with notice (the “Put Notice”) that it was exercising the one-time put right (the “Put Right”)  pursuant to the terms of the Stock Purchase Agreement to put back to the Company approximately 4.8 million Shares subject to the Put Right for cash of $100.0 million. The Company has up to 30 days from the receipt of the Put Notice to purchase and pay for the approximately 4.8 million Shares, and intends to close the transaction on or about 30th day, which is August 19, 2011. The Company has the right under the Stock Purchase Agreement to accelerate such closing date prior to the 30th day. The Company intends to fund the purchase of the Shares with available cash.