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

Trimble Catalyst

Featured Video
Jobs
Geospatial Intelligence Analyst for Quick Services LLC at Fort Bragg, NC
Geospatial Analyst for Vencore at Suitland, MD
Intelligence and Image Analyst for Boeing at Las Cruces, NM
Senior Design Engineer for Kaman at Gilbert, AZ
Architectural Designer II for AECOM at New York, CA
Mgr Mechanical Engineering 2 for Northrop Grumman at Melbourne, FL
Upcoming Events
Esri's annual Geodesign Summit 2017 at Esri's Headquarters Redlands CA - Jan 24 - 26, 2017
DistribuTECH at San Diego Convention Center San Diego CA - Jan 31 - 2, 2017
Teledyne:
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2017 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 TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy