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Atmel Corporation received takeover offer with $9 per share

Staff writer |
Atmel Corporation has received an unsolicited proposal to acquire all of the outstanding shares of Atmel common stock.

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Atmel stockholders would receive $9 in cash per share, with the option to receive, in lieu of cash, shares of the acquiror in an amount of up to $1 billion in aggregate value, based on a ten-day trailing average of the acquiror's closing stock price measured as of transaction close.

Atmel announced on September 20, 2015 that it had entered into a merger agreement with Dialog Semiconductor plc pursuant to which Dialog would acquire Atmel.

Atmel's board has determined that the proposal would reasonably be expected to result in a company superior proposal.

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