Microsemi (MSCC) Said Exploring Potential Sale - Source

October 21, 2016 2:32 PM EDT

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Microsemi Corporation (Nasdaq: MSCC), a California-based semiconductor company, is shopping itself to potential buyers, according to a person claiming to have knowledge of the matter. Further details about the sale including price and timing weren’t made known.

If Microsemi is eventually sold it would be the latest takeover in an industry rife with deals. Microsemi already played a hand in the M&A swell when it acquired PMC-Sierra last year for $2.5 billion, a 77% premium. This time the company may be hoping to fetch its own premium.

Representatives for Microsemi declined to comment on the rumor.

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