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CSR rejects takeover approach from Microchip

2014-08-28 12:42:00| Telecompaper Headlines

(Telecompaper) Wireless chip specialist CSR confirmed it received a takeover approach from Microchip Technology. However, the company rejected the proposal, saying the price was too low. CSR said its board is still considering options for the company. The Financial Times reported earlier that the company has hired bankers to sound out offers and assess the merits of a sale. CSR could sell for as much as USD 3 billion, the report said, compared to a market capitalisation of USD 1.57 billion. CSR's components are used in mobile phones, satellite navigation systems, Bluetooth headsets and in-car entertainment systems. 

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