PMC-Sierra Reiterates Commitment to Skyworks Transaction
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PMC - Sierra (PMCS) Says Microsemi (MSCC) Offer Not Superior to Skyworks (SWKS) Bid
November 2, 2015 6:13 AM ESTPMC - Sierra (NASDAQ: PMCS) announced that PMCs board of directors unanimously determined, after receiving the advice of its financial advisors and outside legal counsel, that the latest proposal received from Microsemi Corporation (NASDAQ: MSCC) to acquire all of the outstanding shares of PMC common stock is not superior to PMCs existing agreement with Skyworks Solutions, Inc. (NASDAQ: SWKS) for the reasons set forth below.
The Board believes that the mixed stock/cash consideration proposed by... More