POST Online Media Lite Edition



 

Fairchild Semiconductor gets $2.46 billion offer from unknown party

Staff writer |
Fairchild Semiconductor International received a buyout proposal from an unnamed party that trumps an agreed deal with ON Semiconductor.

Article continues below






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.


What to read next

Fairchild rejects Chinese offers, thinks regulator will reject deal
Fairchild received revised takeover proposal with $21.70 per share
Fairchild: Chinese proposal with $21.70 per share is superior