NEW YORK, April 2, 2008 /PRNewswire-FirstCall/ -- Obrem Capital Management, LLC ("Obrem"), today announced that it has made a Rule 14a-12 filing with the Securities and Exchange Commission with respect to its request to the Board of Directors of Micrel, Inc. to call a special meeting of shareholders, and in advance of filing additional materials detailing its position more fully.
Obrem said that today's filing highlights its belief that the current Micrel Board is unable to create permanent value for all shareholders. Obrem believes the Board is unwilling to facilitate a serious exploration of strategic alternatives that could result in a sale of the company. Obrem continues to believe that a sale to a strategic buyer, with clear opportunities to realize cost and growth synergies, is the best near and longer-term outcome for Micrel and its shareholders, and could be accomplished at a significant premium to current prices. Further, Obrem believes the Micrel Board and management have under-delivered in terms of operating performance and shareholder value creation. Obrem's director-nominees for consideration at the special meeting collectively combine deep experience in the industry and in value creation for shareholders.
Contacts: Media Investors Jeremy Fielding/Lin Wu Arthur Crozier Kekst and Company Innisfree M&A Incorporated (212) 521-4800 (212) 750-5833
