33586
Superior Offer
World Economy

Superior Offer

Fairchild Semiconductor International Inc. plans to say that a revised takeover proposal from a group led by China Resources Holdings Co. and Hua Capital Management is now likely to lead to a superior offer for the company, according to people familiar with the matter, Bloomberg reported. A statement from the US semiconductor company, which could be made as soon as Tuesday, would open the doors for the two groups to start talking to each other, the people said, asking not to be identified as the matter is private. Fairchild, which agreed to a merger in November with ON Semiconductor Corp., said last week it received a revised, unsolicited acquisition offer of $21.70 a share in cash from a bidder identified as “Party G”–the same group as the one led by China Resources’ semiconductor arm, a person familiar with the matter said at the time. The revised offer would value the company’s equity at $2.46 billion.

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