Shearman & Sterling is advising Qatalyst Partners in its role as financial advisor to National Semiconductor in the company's acquisition by Texas Instruments in a deal valued at $6.5 billion. The acquisition is subject to customary closing conditions, including review by US and international regulators and approval by National's shareholders. The transaction is expected to close in six to nine months.

The Shearman & Sterling team included partners Steve Camahort (San Francisco-Mergers & Acquisitions) and Peter Lyons (New York-Mergers & Acquisitions) and associate Dorman Yale (New York-Mergers & Acquisitions).