Microchip: Any Offer For CSR Is Likely To Be In Cash

(RTTNews) - Semiconductor company Microchip Technology Inc (MCHP), which held preliminary talks with CSR plc (CSRE, CSRXF.PK, CSR.L), including the possibility of a merger, said Friday that any offer for CSR is likely to be solely in cash, although Microchip reserves the right to vary the form of the consideration in any offer if one were to be made.

On Thursday, shares of CSR, a UK-based fabless semiconductor company, surged in London after it confirmed reports of approach for a possible offer from Microchip. CSR, however, spurned the price proposed by Microchip, and its board is mulling options for the company.

Recently, Microchip, based in Chandler, Arizona, agreed to buy ISSC Technologies Corp, a Taiwan-based provider of low power blue-tooth and advanced wireless solutions for the Internet Of Things market, for a total equity value of about $328.5 million.