Monday, November 2, 2015

PMC Sierra Gets Revised Offer From Microsemi

Sunnyvale-based semiconductor developer PMC Sierra said late Friday evening that it had received a revised, unsolicited offer from Microsemi, bumping the offer from Microsemi to approximately $11.88 per share in cash and stock. PMC Sierra has already agreed to be acquired by Skyworks Solutions for $11.60 in cash. According to PMC Sierra on Friday, it found Microsemi's prior offer of cash and stock for the company to not be a "superior proposal" from Skyworks' offer, since Microsemi's prior offer was for cash and stock, adding uncertainty to the ultimate deal price for the company.