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The unnamed Atmel bidder is unmasked
Last week Atmel received an unsolicited proposal to acquire all of the outstanding shares of company's common stock for USD 9.00 per share. Now, the bidder has been identified.
The USD 3.8 billion offer reportedly came from Microchip Technology, according to a report in Reuters, citing a person familiar with the matter.
Atmel said in the press release relating to the unsolicited offer, that it could potentially be deemed as a superior proposal compared to the offer made by Dialog Semiconductor.
However, Atmel's board of directors continues to recommend to its stockholders the adoption of the merger agreement with Dialog.
