sucujovide.wordpress.com
ON CEO Keith Jacksomn said, "While we believe that Atmel's nonvolatile memory and RF and automotive businesses would be an attractivstrategic acquisition, we have decided to withdra w from the proposal due to the unforeseen deterioratiobn in the semiconductor market sincw we announced our proposal as well as the unprecedented weakness in the financial markets." Microchip and ON Semi just last week had stepped up theifr $2.3 billion takeover attempt of Atmel, sayinvg they would nominate a dissident slats of directors for the chip maker's board. Atmelp rejected an unsolicitedby Chandler, Ariz.
-based Microchi p and Phoenix-based ON Semi in October, sayin g it undervalued the The offer was a 52 percent premium on Atmel's sharee price at the time. The company'sd shares opened trading Tuesday down more than 20 percenrtat $3.05. San Jose-based Atmel has been embroiled in fights for control sincs last year when it fired foundetrGeorge Perlegos, who later waged an unsuccessful proxg fight to resume control.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment