News Article
ON and Microchip aim to buy Atmel
Microchip Technology and ON Semiconductor Propose to acquire Atmel for $5.00 per share in cash. Provides premium of 52.4% and values Atmel at $2.3 billion.
Microchip Technology and ON Semiconductor Corporation announced that they have sent a proposal to the Board of Directors of Atmel Corporation to acquire Atmel for $5.00 per share in cash. The proposal, which is being led by Microchip, provides a premium of 52.4% to Atmel’s closing price of $3.28 on October 1, 2008, and values Atmel at $2.3 billion.