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Cypress drops bid for Atmel
Cypress Semiconductor has dropped out of the race for Atmel. The company has withdrawn its offer for the US chipmaker.
On Monday (28-09-2015) the company issued a statement in response to the speculations. Cypress confirmed that it had submitted an offer to the Board of Directors of Atmel to acquire Atmel.
However, the offer expired and Cypress has now withdrawn its interest of acquiring Atmel.
“Cypress regularly evaluates acquisition opportunities to complement its existing business, and maintains a disciplined approach to ensure that it continues to deliver long-term value to its shareholders,” the company writes in the statement.
