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© norebbo dreamstime.com Business | September 01, 2014

CSR says “No thanks.”

Microchip Technology's attempt to scoop up British CSR has lost some speed, as CSR has roundly rejected the takeover offer.
Microchip has had preliminary mutual discussions with CSR plc regarding ways in which its relationship with CSR could be advanced, including possibly an acquisition of CSR. An offer that now has been rejected my CSR.

"The price proposed by Microchip has been rejected and the board is considering its options for the company," CSR explained in a short statement.

However, Microchip is still in the running. Until September 25 – to be precise – and under U.K. takeover rules, Microchip can post a firm offer for CSR.

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