Freescale Agrees to $17.5B Buyout

Austin, Texas-based Freescale Semiconductor has agreed to a $17.6B private equity buyout from a consortium of private equity buyers, the company said Friday afternoon. The consortium, led by The Blackstone Group, also includes The Carlyle Group, Permira Funds and Texas Pacific Group. The consortium said it will acquire acquire all of the outstanding Class A and Class B shares of Freescale for $40 per share in cash.