Atmel's Board To Engage In Discussions With Potential Acquiror

(RTTNews) - Atmel Corp. (ATML) announced it has received an unsolicited proposal to acquire all of the outstanding shares of Atmel common stock. Atmel stockholders would receive $9.00 in cash per share, with the option to receive, in lieu of cash, shares of the acquiror in an amount of up to $1.0 billion in aggregate value. Atmel's board has determined to engage in discussions with the potential acquiror.

Atmel's board has not determined whether the new proposal constitutes a Superior proposal under the terms of the Dialog Semiconductor plc (DLGNF.PK, DLGS) merger agreement. However, Atmel's board, in consultation with its financial and external legal advisors, has determined that the proposal would reasonably be expected to result in a Superior proposal.