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Microsemi Offers to Buy PMC-Sierra in $2.4B Deal

2015-10-19 15:47:11| Semiconductors - Topix.net

Chipmaker Microsemi offered to buy PMC-Sierra in a deal valued at about $2.4 billion, trumping Skyworks Solutions Inc's offer of $2 billion. Microsemi's offer of $11.50 per share represents a premium of about 12 percent to PMC-Sierra's Friday close..

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Chip maker Microsemi offers to buy PMC-Sierra in $2.4-billion deal

2015-10-19 15:47:10| Semiconductors - Topix.net

Chip maker Microsemi Corp said it had offered to buy chip maker PMC-Sierra Inc in a deal valued at about $2.4-billion. Chip maker Microsemi Corp said it had offered to buy chip maker PMC-Sierra Inc in a deal valued at about $2.4-billion.

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Chipmaker Microsemi offers to buy PMC-Sierra in $2.4 billion deal

2015-10-19 14:46:53| Electronics - Topix.net

Chipmaker Microsemi Corp offered to buy PMC-Sierra Inc in a deal valued at about $2.4 billion , trumping Skyworks Solutions Inc's offer of $2 billion. Microsemi's offer of $11.50 per share represents a premium of about 12 percent to PMC-Sierra's Friday close..

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Microsemi tops Skyworks bid for PMC-Sierra

2015-10-19 13:27:00| Telecompaper Headlines

(Telecompaper) Microsemi has emerged as a new bidder to acquire PMC-Sierra, besting an agreed offer from Skyworks for the struggling chipmaker. Microsemi's offer of mostly cash and shares values PMC-Sierra at USD 11.50 per share, a 50 percent premium on its share price prior to the deal with SkyWorks announced less than two weeks ago. This tops Skyworks' agreed offer of USD 10.50 per share, all in cash. Microsemi is offering USD 8.75 in cash and the remainder in its own common shares, valuing PMC-Sierra in total at USD 2.4 billion. The company said the stock element will give PMC-Sierra shareholders the opportunity to benefit also from the longer-term synergies of the merged group. PMC's shareholders would own around 15 percent of the combined company if the deal goes ahead. The other conditions of Microsemi's offer, conveyed in a letter to PMC-Sierra's board, are "substantially the same" as the Skyworks bid, it said. 

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Microsemi Coverage Initiated at Mizuho

2015-10-19 00:01:25| Semiconductors - Topix.net

The firm set a "buy" rating and a $42.00 price target on the stock. Mizuho's target price would suggest a potential upside of 12.42% from the stock's previous close.

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