ON Semiconductor Has Superior Proposal Investors Say

ON Semiconductor’s offer to acquire Fairchild Semiconductor for $20 per share in cash is superior to a Chinese investor group’s higher bid, said two hedge fund sources, one with a stake in Fairchild.

Even though a consortium led by China Resources Microelectronics and Hua Capital Management bid $21.70 per share for Fairchild last week, the deal is unlikely to gain approval from the Committee on Foreign Investment in the United States, historically reluctant to allow Chinese companies to acquire U.S. semiconductor technology. Fairchild, however, will likely assert

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Sarah Cohen

Sarah Cohen

Sarah Cohen joined CTFN in August of 2015. Sarah is a New Jersey-based telecom and technology M&A reporter whose work has appeared in Forbes, TheStreet, FT.com, and many other publications including Mergermarket, where she worked for 10 years. Sarah has covered Yahoo, the data center space, new and incumbent telecoms, FCC matters, and CFIUS for CTFN. She has an MA in communications from Bowling Green State University and BA in English from the University of New Hampshire.

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