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

Harris

Featured Video
Jobs
Software Developer for CHA Consulting, Inc. at Norwell, Massachusetts
Geospatial Analyst/Programmer for LANDIQ at Sacramento, California
Product Manager for CHA Consulting, Inc. at Boston, Massachusetts
System Designer/Engineer for Bluewater at Southfield, Michigan
Senior Structural Engineer for Wiss,Janney, Estner Assoicates, Inc at houston, Texas
BIM Manager for Eagle Point Software Corporation at Dubuque, Iowa
Upcoming Events
FME World Tour 2018 at Frankfurt Germany - Apr 24, 2018
FME World Tour 2018 at Dortmund Germany - Apr 25, 2018
Directions LIVE 2018 at Malaysia - Apr 26 - 3, 2018
GENEQ
Canon: oce crystalPoint
Teledyne Optech
Teledyne:



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — 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 PolicyAdvertise