Investing
Atmel Merger Odd, But Proves Mergers Still Possible (ATML, MCHP, ONNN)
Published:
Last Updated:
Atmel Corporation (NASDAQ: ATML) is going to be trading up big this morning. Shares are currently halted on the news that Microchip Technology Incorporated (NASDAQ: MCHP) and ON Semiconductor Corporation (NASDAQ: ONNN) have sent a proposal to Atmel to acquire the company for $5.00 per share in cash.
This is roughly a premium of 52% to yesterday’s closing price of $3.28and is at the higher end of the $2.83 to $5.83 trading range of thelast 52-weeks. It also tallies the company up to a value of about $2.3billion.
Microchip is leading this acquisition and the deal will be partlyfinanced by the sale of Atmel’s nonvolatile memory and radio frequencyand automotive units to ON Semiconductor.
This is a very different merger when you consider how it is beingconducted. But it also shows and proves that mergers can come even inthe most volatile or questionable economic times.
Jon C. Ogg
October 2, 2008
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
