PMC-Sierra Inc
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Pinnacle Foods: Sole Junk Bond Issuer for the Week of January 15
Pinnacle Foods issued dollar-denominated junk bonds worth $350 million on January 12, 2016. The senior notes were rated B2/B+ and carried a coupon of 5.9%.
Microsemi Corporation Issued Junk Bonds Worth $450 Million
Microsemi Corporation issued dollar-denominated junk bonds worth $450 million. It intends to use the proceeds of the loan for the acquisition of PMC-Sierra.
Leveraged Loans Primary Market Issuance Falls to Zero after Christmas Weekend
The issuance of US leveraged loans fell to zero last week. However, in the previous week, ~$4.9 billion in dollar-denominated senior loans were priced.
Internet of Things Will Drive Semiconductor Usage Going Forward
So far, the Internet of Things has made inroads into the consumer electronics, automotive, and healthcare segments.
What Will Drive Growth in the Industrial Semiconductor Market?
The demand for industrial semiconductors will be driven by the LED (light-emitting diodes) lighting sector, security, energy management, and medical devices.
Was It Wise for Skyworks to Give Up on PMC-Sierra?
While many analysts did not expect Skyworks to give up on PMC-Sierra so soon, they found the decision to be a wise one.
Microsemi Bids for PMC-Sierra for the Third Time
Microsemi has made a third offer for the acquisition of PMC-Sierra, increasing the cash component. The revised offer values PMC-Sierra at $12.05 per share.
ON Semiconductor Swoops Up Fairchild in $2.4 Billion Cash Deal
On November 18, 2015, Fairchild announced its acquisition by ON Semiconductor for a total cash consideration of $2.4 billion. The deal values Fairchild at $20 per share.
Skyworks and Microsemi Compete to Acquire PMC-Sierra
On October 5, 2015, Skyworks Solutions announced that it is looking to acquire peer company PMC-Sierra for $2 billion in cash.
Why did PMC-Sierra Prefer Skyworks’ Offer over Microsemi’s?
The bid by Microsemi gave PMC-Sierra an edge to renegotiate with Skyworks and get a better offer. Both Microsemi and Skyworks revised their offers for PMC.
Microsemi Offers $2.2 Billion in Competition for PMC-Sierra
Microsemi, a manufacturer of high-performance semiconductors, made a cash-stock offer of $2.2 billion to acquire semiconductor company PMC-Sierra (PMCS).
