Fairchild receives competing offer worth about $2.46 billion

December 30, 2015 byThe Associated Press

Fairchild Semiconductor International Inc. says it has a received an unsolicited offer to buy its business, topping its existing deal with ON Semiconductor.

The bidder is identified in SEC documents only as "Party G."

The new offer of $21.70 a is valued at roughly $2.46 billion based on Fairchild's 113.4 million shares outstanding.

Fairchild agreed in November to be bought by ON Semiconductor for $20 per share, or about $2.27 billion.

Fairchild's board of directors said Tuesday that it is reviewing the new offer but has not changed its recommendation supporting of the with ON Semiconductor.

Shares in Fairchild, which is based in San Jose, California, ended Tuesday up 3 cents at $20.01

Explore further: ON Semiconductor to buy Fairchild for about $2.3 billion

Related Stories

Depomed rejects Horizon's latest takeover offer

September 14, 2015

Depomed Inc. on Monday rejected Horizon Pharma PLC's sweetened $2.4 billion hostile takeover offer, saying it still undervalues the company, and recommended that its shareholders reject the bid.

Recommended for you

Coffee-based colloids for direct solar absorption

March 22, 2019

Solar energy is one of the most promising resources to help reduce fossil fuel consumption and mitigate greenhouse gas emissions to power a sustainable future. Devices presently in use to convert solar energy into thermal ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.