Monday, February 7, 2011

Conexant Gets Competing Acquisition Offer

Newport Beach-based semiconductor maker Conexant said Monday afternoon that it has received a competing acquisition offer from private equity firm Golden Gate Private Equity. According to Conexant, Golden Gate has offered to acquire the firm, paying between $2.35 to $2.45 per share in cash, or between $192M to $200M. The new acquisition offer ups an earlier acquisition proposal from SMSC in January, which offered to acquire publicly held Conexant for $2.25 per share, or $184M.