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Skyworks Scraps Deal for PMC After Microsemi's Increased Bid

2015-11-24 14:21:46| Semiconductors - Topix.net

Skyworks Solutions Inc. withdrew its agreed takeover bid for PMC-Sierra Inc. after an increased offer of $2.3 billion from Microsemi Corp. gained the backing of the target's board, ending a month-long bidding contest for the maker of semiconductors for network drives. Skyworks said in a statement it won't modify its bid and that the company is entitled to a $88.5 million termination fee from PMC.

Tags: increased deal bid pmc

Category:Electronics and Electrical

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