Intersil Holding Sets Stock Sale Price at $48

Intersil Holding Corp. has priced a secondary offering of 11 million shares of stock at $48 a share. The Irvine telecommunications chip maker filed last month with federal regulators a statement to sell 10 million shares of stock at an undisclosed price. The company, which recently moved to Irvine from Florida, said it would sell 3 million new shares and that existing shareholders would sell 7 million. The company said it plans to use the net proceeds for acquisitions and general corporate purposes.