Deals
China Resources Said to Offer $2.46 Billion for Fairchild
- Bid of $21.70 a share tops ON Semiconductor's $20/share offer
- China seeks to create a national champion in semiconductors
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A group led by China Resources Holdings Co.’s semiconductor arm and Hua Capital Management Ltd. made an offer for Fairchild Semiconductor International Inc. valuing the company at $2.46 billion, people familiar with the matter said, topping a previous offer by ON Semiconductor Corp.
Fairchild said Tuesday it had received an unsolicited offer of $21.70 a share from a company it didn’t name. Fairchild’s board of directors will review and consider the proposal, the company said in a statement.