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CSR extends deadline for Microchip bid
Cambridge Silicon Radio (CSR) has extended the deadline for US company Microchip Technology to make a takeover bid.
The British silicon chip designer and software company had originally set the deadline at 5pm today, but Microchip now has until 5pm on 15 October to come to a decision on whether it will make an offer.
The extension was made “to enable the parties to conclude their ongoing discussions,” according to a statement released by CSR this morning.
"There can be no certainty that an offer will be made nor as to the terms on which any offer might be made,” it continued. CSR has not given any details on its plans.
It is not the first time an approach has been made by Microchip – last month CSR rejected an offer from the American firm, saying “the price proposed by Microchip has been rejected and the board is considering its options for the company.”
The exact price offered for the business could not be ascertained but analysts at NSBO suggested it could have been as much as $2.7bn