- Two weeks after rejecting an unsolicited $21.70/share, all-cash, bid for the company, Fairchild Semi (FCS) says it has received a revised $21.70/share cash offer.
- The board plans to "carefully review and consider" the revised offer. For now, its official recommendation of a $20/share deal to sell to ON Semi (NASDAQ:ON) remains unchanged. SA author Jaret Wilson has argued the ON deal undervalues Fairchild.
- Fairchild has risen to $20.89 after hours. Bloomberg reported three weeks ago the original $21.70/share offer for Fairchild came from a Chinese group featuring China Resources Holdings' chip arm and investment firm Hua Capital.
Fairchild receives new buyout offer; shares +4.4%
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