Top News

Atmel Gets Hostile Bid From Microchip, ON Semiconductor

San Jose-based Atmel Corporation, a maker of semiconductors, has been handed a $2.3 billion dollar offer from the company. According to Microchip Technology and ON Semiconductor, they are offering to buy Atmel for $5.00 per share in cash, after Atmel rejected an offer to discuss a possible buyout. In a letter released by the firms, Microchip Technology said it was looking to acquire Atmel at a premium of 52.4% from its closing price Wednesday, and would finance part of the acquisition by selling Atmel's nonvolatile memory, RF, and automative businesses to ON Semiconductor.


 

Marketplace


blog comments powered by Disqus
 

Latest Headlines

Browse Issues