Microsemi (MSCC) has formally commenced its CAD $3.35/share hostile bid for Canada's Zarlink...

|About: Microsemi Corporation (MSCC)|By:, SA News Editor

Microsemi (MSCC) has formally commenced its CAD $3.35/share hostile bid for Canada's Zarlink Semiconductor (ZLKKF.PK). Zarlink has issued a statement rebuffing Microsemi's offer as "inadequate and opportunistic." Its shares are currently trading at CAD $3.61 on the Toronto exchange, suggesting investors expect a higher bid to be made.