Microsemi In Hostile Bid For Canadian Firm

Irvine-based semiconductor firm Microsemi said Wednesday that it has made an unsolicited proposal to buy a Canadian semiconductor firm, Zarlink Semiconductor, in a deal worth $548.7M. Microsemi said it has proposed to acquired Zarlink for $3.35 Canadian in cash. Zarlink has so far rejected earlier, private proposals made by Microsemi to acquire the firm, according to Microsemi. Zarlink is a maker of communications and medical semiconductors, including telephony, packet processing and voice processing chips and medical power surge protection products. Zarlnk said Wednesday that all of the offers it has received from Microsemi "significantly undervalues" the firm.