Dialog declines to raise bid for Atmel

News General Global 15 JAN 2016
Dialog declines to raise bid for Atmel

Dialog Semiconductor has decided not to raise its bid for Atmel, acknowledging that a rival bid from Microchip Technology was superior and that a higher bid was not in the interests of its shareholders.

Under the merger agreement that was signed between Atmel and Dialog, Atmel will have to pay a termination fee of USD 137.3 million.

Microchip made an offer for Atmel valued at USD 8.15 per share. Dialog’s offer was for USD 4.65 in cash and 0.112 of a Dialog American depositary share for each Atmel share.  

 

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General

Companies:

Dialog Semiconductor,  Microchip Technology

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Global

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Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

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