SAN JOSE, CA--(Marketwired - Jan 20, 2015) -   Micrel, Incorporated (NASDAQ: MCRL), a leading global manufacturer of IC solutions for the worldwide high performance linear and power, LAN and timing and communications markets, today announced that its Board of Directors has unanimously decided to undertake a comprehensive review of strategic alternatives to enhance value for shareholders. 

The Micrel Board of Directors announced the formation of a Transactions Committee to lead the review and evaluation of strategic alternatives. The Transactions Committee is composed of three independent members of the Board of Directors: Robert Herb (Chairman of the Transactions Committee), John Bourgoin and Daniel Heneghan.

"Given our unique and valuable assets, as well as our strong position in the marketplace, we believe now is an opportune time to conduct a thorough review of our strategic alternatives to determine the best path, including our standalone plan, to maximize shareholder value," said Raymond Zinn, Chairman and Chief Executive Officer of Micrel. "Regardless of the outcome of the Board's review process, the entire Micrel team remains fully committed to our customers and continuing to provide them with industry-leading solutions."

There can be no assurance that the Company's review of strategic alternatives will result in any transaction. The Company does not currently intend to disclose further developments with respect to this process unless and until its Board of Directors approves a specific action or otherwise concludes the review of strategic alternatives.

Credit Suisse is serving as financial advisor and Davis Polk & Wardwell LLP is providing legal advice to Micrel in connection with this process.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release includes statements that qualify as forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements about the following topics: future opportunities that are available to the Company, existence of any viable strategic alternatives and whether any future decisions by the Company will enhance stockholder value. Forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially. Those risks and uncertainties include, but are not limited to, such factors as: availability of strategic alternatives, economic or financial difficulties experienced by our customers; the effect of business conditions in the computing, wireless, telecommunications and industrial markets; the impact of any previous or future acquisitions; challenges involving integration of acquired businesses and utilization of acquired technology, market adoption, revenue growth and margins of acquired products; changes in demand for the Company's products; the impact of competitive products and pricing and alternative technological advances; the accuracy of estimates used to prepare the Company's financial statements and forecasts; the global economic situation; the ability of the Company's vendors and subcontractors to supply or manufacture the Company's products in a timely manner; the timely and successful development and market acceptance of new products and upgrades to existing products; softness in the economy and the U.S. stock markets as a whole; fluctuations in the market price of Micrel's common stock and other market conditions; the difficulty of predicting our future cash needs; the nature of other investment opportunities available to the Company from time to time; Micrel's operating cash flow, and economic and industry projections. For further discussion of these risks and uncertainties, please refer to the documents the Company files with the SEC from time to time, including the Company's Annual Report on Form 10-K for the year ended December 31, 2013, and including the risks and uncertainties of whether any strategic alternative will be identified by the Transactions Committee, whether it will be pursued, whether it will receive Board of Directors and stockholder approval if necessary, whether it will be consummated and, if consummated, whether it will enhance value for all stockholders of the Company. All forward-looking statements are made as of today, and the Company disclaims any duty to update such statements.

About Micrel
Micrel, Incorporated is a leading global manufacturer of IC solutions for the worldwide high-performance linear and power, LAN and timing and communications markets. The Company's products include advanced mixed-signal, analog and power semiconductors, as well as high-performance communication, clock management, Ethernet switch and physical layer transceiver ICs. Company customers include leading manufacturers of enterprise, consumer, industrial, mobile, telecommunications, automotive, and computer products. Corporation headquarters and state-of-the-art wafer fabrication facilities are located in San Jose, CA, with regional sales and support offices and advanced technology design centers situated throughout the Americas, Europe and Asia. In addition, the Company maintains an extensive network of distributors and reps worldwide. Web: www.Micrel.com.