Atmel to Review Unsolicited Proposal from Microchip and ON Semiconductor

SAN JOSE, Calif., Oct. 2 /PRNewswire/ -- SAN JOSE, Calif., Oct. 2 /PRNewswire-FirstCall/ -- Atmel(R) Corporation (NASDAQ: ATML) today confirmed that it has received an unsolicited proposal from Microchip Technology Inc. (NASDAQ: MCHP) and ON Semiconductor (NASDAQ: ONNN) to engage in negotiations for a three-way agreement to acquire Atmel at $5.00 per share, subject to conditions, including the sale of assets, due diligence, and financing. Atmel's Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will review and consider the proposal in due course.

Morgan Stanley and Credit Suisse are serving as financial advisors, and Wachtell, Lipton Rosen & Katz is serving as legal counsel to Atmel.

About Atmel

Atmel is a worldwide leader in the design and manufacture of microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel provides the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.

    Investor Contact:                   Media Contact:
    Robert Pursel                       Barrett Golden / Sharon Stern
    Director of Investor Relations      Joele Frank, Wilkinson Brimmer Katcher
    408-487-2677                        212-355-4449




Review Article Be the first to review this article

Featured Video
Editorial
Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
Re-Use Your CAD: The ModelCHECK Handbook
Jobs
Business Partner Manager for Cityworks - Azteca Systems, LLC at Sandy, UT
GIS Analyst II for Air Worldwide at Boston, MA
Senior Structural Engineer for Design Everest at San Francisco, CA
Upcoming Events
Design & Manufacturing, Feb 7 - 9, 2017 Anaheim Convention Center, Anaheim, CA at Anaheim Convention Center Anaheim CA - Feb 7 - 9, 2017
Innorobo 2017 at Docks de Paris Paris France - May 16 - 18, 2017
Display Week 2017 at Los Angeles Convention Center 1201 S Figueroa St Los Angeles CA - May 21 - 26, 2017



Internet Business Systems © 2016 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise