New Atmel CEO to Sell Outstanding Shares?

New York-based RDG Capital LLC issued a letter to Atmel Corp. (ATML) in late May. At the same time, the firm initiated discussions with Chairman George Perlegos expressing RDG's potential interest in acquiring all of the outstanding shares of the Company for $5.50 per share to be paid in cash and preferred stock.

RDG's proposal was subsequently rejected. However, with the hiring of Steven Laub as the new CEO, replacing Perlegos after an internal investigation revealed he misused corporate travel funds, the deal could have new legs. Judging by the recent increase in share price, rumors have it that investors are betting that the deal could now fall through.

ATML 1-yr chart:

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hi

[meneros]

Hi