CSR turns down Microchip's takeover approach

|About: CSR plc ADR (CSRE)|By:, SA News Editor

U.K. chipmaker CSR (NASDAQ:CSRE) has turned down a takeover approach from rival Microchip (NASDAQ:MCHP).

Although it did not provide details of the proposal, CSR states, "the price proposed by Microchip has been rejected and the board is considering its options for the company."