Fairchild Semiconductor gets $2.46 billion offer from unknown party
The new offer of $21.70 per share, which values Fairchild at $2.46 billion, tops an offer by ON Semiconductor of $20 per share. Fairchild said its board would consider the unsolicited bid but still supported the agreement with ON Semiconductor.
The unnamed party was identified by Bloomberg as a group led by China Resources Holdings. That state-owned company is a holding company for a group of energy, land and consumer businesses including China Resources Gas Group, China Resources Cement Holdings and China Resources Power Holdings. ■