British chipmaker agrees to takeover from Qualcomm

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AFP London
Last Updated : Oct 15 2014 | 5:36 PM IST
British chipmaker CSR said today that it has agreed to a takeover from US giant Qualcomm.
The cash offer, pitched at 900 pence per share, values the group at 1.56 billion pounds (USD 2.5 billion, 2.0 billion euros), it added in a statement.
"The board believes this represents a very attractive outcome for CSR shareholders, customers and employees," said CSR chairman Ron Mackintosh.
CSR, formerly known as Cambridge Silicon Radio, had rejected a takeover approach from US firm Microchip Technology in August.
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First Published: Oct 15 2014 | 5:36 PM IST

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