Microsemi Sweetens Offer to Acquire PMC-Sierra

Microsemi increased its offer to acquire PMC-Sierra.  Under the new proposal, PMC shareholders would receive $9.04 in cash and 0.0771x of a Microsemi common share for each PMC common share held at the close of the transaction. The implied enterprise value is $2.3 billion, net of PMC's net cash balance as of Sept. 27, 2015. Based on the closing stock price of Microsemi on Oct. 29, 2015, the transaction is valued at $11.88 per PMC share.

"Our revised proposal offers superior value to PMC's shareholders, and Microsemi is uniquely positioned to realize significant synergies," said James J. Peterson, Microsemi's chairman and CEO. "Our offer is more strategic, offers more certainty in terms of closing approval process and timing, and at a higher price than the Skyworks proposal. Shareholders receive cash now as well as the opportunity to participate in the significant upside potential of a global analog and mixed-signal leader with a highly diversified platform for growth and profitability."

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Microsemi Announces Bid to Acquire PMC-Sierra

Monday, October 19, 2015  Mergers and Acquisitions, PMC  No comments

Microsemi announced an offer to acquire PMC-Sierra for $11.50 per PMC share, representing a premium of approximately 50 percent to the closing price on Oct. 5, 2015, the last trading day prior to the announcement of PMC's proposed acquisition with Skyworks Solutions.  The offer price is based on the closing stock price of Microsemi on Oct. 16, 2015. Microsemi said its offer is better than that of Skyworks because its cash and stock proposal...

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Skyworks to Acquire PMC-Sierra for $2 Billion

Monday, October 05, 2015  Canada, Mergers and Acquisitions, PMC, Silicon, Skyworks  No comments

Skyworks Solutions has agreed to acquire PMC-Sierra for $10.50 per share in an all-cash transaction valued at approximately $2 billion. Skyworks, which is based in  Woburn, Massachusetts, supplies high performance analog semiconductors for automotive, broadband, wireless infrastructure, energy management, GPS, industrial, medical, military, wireless networking, smartphone, and tablet applications. The company’s portfolio includes amplifiers,...

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