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ATML Jumps with Takeover Offer
Shares of Atmel (ATML - Analyst Report) jumped more than 29% so far today after the company received a $2.3 billion takeover proposal from Microchip Technology (MCHP - Analyst Report) and ON Semiconductor (ONNN - Analyst Report). This deal represents a 52.4 percent premium to ATML's closing price of $3.28 on Wednesday. Analysts have pulled back on estimates for this year by a penny in the last couple of months.
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| Market Summary | Jul 04, 2009 23:06 pm ET |
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