Chinese Group Bids for Fairchild

Dylan McGrath, EETimes
12/9/2015 10:10 AM EST

SAN FRANCISCO—A Chinese government-backed firm has initiated a bidding war for chip maker Fairchild Semiconductor International Inc., which last month accepted an acquisition offer from ON Semiconductor Corp.

Fairchild (San Jose, Calif.) acknowledged Tuesday (Dec. 8) that it received a rival bid, worth $21.70 per share, or about $2.46 billion. The ON Semi offer, announced Nov. 18, is worth about $2.4 billion.

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