Deals
China Electronics in Talks to Acquire Chipmaker Atmel
- Atmel is seeking buyer amid industrywide consolidation
- Deal talks said to be for price of about $8.50 a share
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China Electronics Corp., the nation’s largest state-owned information technology company, is in preliminary talks to acquire U.S.-based Atmel Corp., people with knowledge of the process said.
CEC is discussing a bid for Atmel, a maker of chips used in industrial machinery and cars, at about $8.50 a share and the two sides are negotiating, said the people, who asked not to be identified as the information is private. Atmel closed at $8.18 in New York trading Wednesday, down from a high of $10.44 in June, giving the San Jose, California-based company a market value of about $3.4 billion.