The Clock on the Wall Says It May Be Time for More Analog Deals

Today’s surprising combination of Texas Instruments and National Semiconductor has market watchers going crazy for analog chips in hopes of catching the next deal. Shares of other analog chip makers rose as much as 8 percent after hours.

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ON, Microchip, Jointly Offer $5 Per Share to Buy Atmel; Shares of Both Suitors Tumble; Atmel Set to Soar

Microchip (MCHP) and ON Semiconductor (ONNN) made a joint unsolicited bid to acquire Atmel (ATML) today for $5 a share in cash. The deal values Atmel at $2.3 billion. In a letter to Atmel yesterday–which was released today by Microchip and ON Semi–the two companies says they were “deeply disappointed” that Atmel’s board “appears unwilling to consider a transaction at this time, under any circumstances.”