It's high noon now:
"Skyworks topped by $2.4b bid for chipmaker PMC-Sierra; Microsemi offer may spark bidding war" by Ville Heiskanen and Jing Cao Bloomberg News October 20, 2015
HELSINKI — Microsemi Corp., a maker of chips for the communications, security, aerospace, and industrial markets, joins Dialog Semiconductor PLC, Intel Corp., and Avago Technologies Ltd. in seeking combinations with rivals amid higher costs and stiffer competition. Microsemi said a takeover of PMC-Sierra Inc. would let it expand its product offering and allow the combined company to save more than $100 million a year in expenses.
“A bidding war may ensue,” Gary Mobley, an analyst at the Benchmark Co., wrote in a note to investors. He cited the high value of PMC-Sierra’s assets to both bidders.
PMC-Sierra, based in Santa Clara, Calif., makes chips that control drives in network equipment, data-center storage systems, and mobile-phone networks. The company reported sales declines in two of the past three years.
Semiconductor makers have pursued deals at a record pace this year, as surging costs for design and manufacturing, coupled with a shrinking customer base, have created a need to bulk up. About $80 billion in global mergers and acquisitions are pending or have been completed in the semiconductor industry this year, according to data compiled by Bloomberg.
--more--"
Did you see what I saw?
UPDATE: Skyworks boosts offer for PMC-Sierra to $11.60 in cash
