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[August 29, 2014]
US's Microchip Technology Confirms Takeover Discussions With CSR
(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - US semiconductor producer Microchip Technology Inc Friday confirmed it has held preliminary discussions with FTSE 250 chipmaker CSR PLC over a potential acquisition.
Microchip noted that it has worked with CSR on business initiatives in the past, such as a Bluetooth module initiative.
The Arizona-based company said that discussions with CSR are at "a very preliminary stage", and said there can be no certainty that an offer will be made.
On Thursday, CSR said it had rejected a bid from Microchip Technology as its proposed price was too low, and said it was considering its options.
Under UK takeover rules, Microchip Technology now has until September 25 to make a firm offer for CSR or walk away.
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