The Skyworks Solutions Inc. (Nasdaq: SWKS) offer is for about $10.50 a share in all cash; Microsemi’s larger offer is for $8.75 a share in cash, with the balance paid in stock.
"This acquisition will provide Microsemi with a leading position in high performance and scalable storage solutions targeted for data center and cloud applications, while also adding a complementary portfolio of high-value communications products. Microsemi has a strong track record of integrating acquisitions and driving profitability, and we will benefit from increased scale, industry-leading margins, diversified market exposure, consolidated infrastructure and substantial cost savings in a combination with PMC."
In contrast to the Skyworks bid, Microsemi said its offer is already approved by its board, is not contingent on any new financing arrangements, and won’t be subject to the regulatory scrutiny that a deal with a Chinese company is perforce going to attract.
— Brian Santo, Senior Editor, Components, T&M, Light Reading