News Article
Microchip and ON disappointed with Atmel
ON Semiconductor and Microchip respond to Atmel board rejection.
Microchip Technology Incorporated and ON Semiconductor Corporation announced that they are disappointed with Atmel Corporation’s rejection of Microchip’s and ON Semiconductor’s proposal to acquire Atmel for a significant premium at $5.00 per share in cash without engaging in any discussions with Microchip and ON Semiconductor. Microchip and ON Semiconductor will consult with their respective boards of directors and advisers and will determine their next steps in due course.
