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


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.

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