Post by thread:[EE] Atmel rejected Microchip's buy offer...

On Nov 23, 2008, at 5:03 PM, Forrest W Christian wrote: > I was on the Atmel site looking to see if there was an AVR to fit a > need > I had, and happened across this... > > http://www.atmel.com/dyn/corporate/view_detail.asp?FileName=AtmelBoardofDirectorsResponse_10_29.html Old news (10/29, right?) Since then: Microchip said they'd continue with the effort. Microchip/ON suggested that they'd try to replace the BoD. Atmel re-iterated their opinion that the offer was undervalued. (the stock market in general continued to plummet.) ON withdrew from the proposal (citing economic conditions.) Microchip said they'd need to find a new partner before continuing. BillW

The weird thing on this is that most of the times companies are not announcing these things until both parties agree on the transaction. Tamas On Mon, Nov 24, 2008 at 6:58 AM, Forrest W Christian <spam_OUTforrestcTakeThisOuTimach.com>wrote: > William "Chops" Westfield wrote: > > Old news (10/29, right?) > Yes, but I hadn't seen anything here about it..... Last I had heard was > the Microchip press release. > > -forrest > > > > -

Tamas Rudnai wrote: > The weird thing on this is that most of the times companies are not > announcing these things until both parties agree on the transaction. And when they announce, this may mean someone is starting the game on the stock shares.

Not related to your point - but the part finder at avrfreaks.net is pretty nice. (devices -> compare devices tab) - Martin Forrest W Christian wrote: > I was on the Atmel site looking to see if there was an AVR to fit a need > I had, and happened across this... > > www.atmel.com/dyn/corporate/view_detail.asp?FileName=AtmelBoardofDirectorsResponse_10_29.html > > -forrest

At 04:37 AM 11/24/2008, you wrote: >The weird thing on this is that most of the times companies are not >announcing these things until both parties agree on the transaction. > >Tamas Well, it WAS a hostile bid, after Atmel rejected the idea in principle back in September as I recall. Didn't the trade press and the stock market press all carry an item last week that ON had decided not to pursue the matter at all and the Microchip had withdrawn the offer? After all, Microchip were relying on ON semiconductor taking part of Atmel to have sufficient funds to be able to complete the deal, but I understand that part of the issue was that ON would need to raise some finance to carry off their part of it. SO now we can all go back to worrying about saving our own businesses! John {Quote hidden}>On Mon, Nov 24, 2008 at 6:58 AM, Forrest W Christian ><.....forrestcKILLspam@spam@imach.com>wrote: > > > William "Chops" Westfield wrote: > > > Old news (10/29, right?) > > Yes, but I hadn't seen anything here about it..... Last I had heard was > > the Microchip press release. > > > > -forrest > > > > > > > > --