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Fairchild to choose an offer - China Resources or ON Semi's
Fairchild Semiconductor's board of directors has – after consultation legal and financial advisors – determined that the proposal from China Resources Microelectronics and Hua Capital Management, does not constitute as a superior proposal next to ON Semiconductor's.
On January 5, 2016, Fairchild informed that the Board determined that the acquisition proposal would reasonably be expected to result in a Superior Proposal. The Fairchild management team, along with legal and financial advisors, engaged in discussions with China Resources and Hua Capital. And after conducting a review, the board concluded that the proposal in fact is not superior to Fairchild’s existing agreement with ON Semiconductor.
