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Zarlink fends off hostile takeover

Posted 2526 days ago by bob in category Ottawa TechWatch with 0 Comments 

The board of directors at Zarlink Semiconductor defended itself against a takeover bid tendered by California chipmaker Microsemi Corp. on Wednesday, saying the unsolicited offer is too low.

"The Zarlink Board has always been prepared to consider and pursue strategic transactions or plans and will consider all appropriate alternatives which capture the true value of the company for its stakeholders" said Adam Chowaniec, chairman of Zarlink's board of directors. "Microsemi's proposal clearly does not capture the value that has been created or that exists in the company."

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