Fairchild Semiconductor International Inc. has decided to stick with ON Semiconductor Corp. as the buyer of the company after it received a secondary offer from a Chinese venture capital firm.
Last week, Fairchild received an offer from China Resources Holdings Co.’s semiconductor arm and Hua Capital Management Ltd. for $2.46 billion, just slightly above the amount ON was offering for Fairchild’s assets. However, the company says that it has not changed its support of the ON deal and does not consider the Chinese group’s offer a superior proposal after all is said and done.
ON’s bid for Fairchild is just one of numerous mega-deals in the semiconductor industry that has happened over the past year or so and more than likely won’t be the last.
