A new player enters the match for Fairchild
Fairchild Semiconductor said it has receipt an unsolicited proposal to acquire the company for USD 21.70 per share in cash, which trumps the offer by a subsidiary of ON Semiconductor of USD 20.00 per share.
Back in November, Fairchild entered into an agreement and plan of merger with a subsidiary of ON Semiconductor. The company would buy Fairchild for USD 20.00 per share, or USD 2.4 billion. Fairchild’s board of directors – in consultation with its legal and financial advisors – will carefully review and consider the new proposal.