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Microchip willing to offer cash to sweeten CSR takeover offer
MICROCHIP Technology, the US maker of memory and analog chips, has sweetened its bidding for British microchip firm CSR by revealing it is likely to pay cash for the firm should a deal be agreed.
CSR confirmed it had knocked back a takeover approach from its US rival last week, saying Microchip would have to up its offer. The prospect of a deal boosted CSR’s shares 35.6 per cent.
Microchip said yesterday it was in discussions with CSR “regarding ways in which its relationship with CSR could be advanced, including possibly an acquisition of CSR. Any offer for CSR is likely to be solely in cash although Microchip reserves the right to vary the form of the consideration in any offer if one were to be made.”