Microsemi Corp. (MSCC) said it has increased its proposal to acquire PMC-Sierra, Inc. (PMCS) in a cash and stock transaction, noting that the offer delivers better price, certainty and timing than an alternative scenario.
Under the terms of Microsemi's proposal, PMC shareholders would receive $9.22 in cash and 0.0771 of a share of Microsemi common stock for each share of PMC common stock.
The implied enterprise value is $2.3 billion, net of PMC's net cash balance as of September 27, 2015. Based on the closing stock price of Microsemi on November 17, 2015, the transaction is valued at $12.05 per PMC share.
Microsemi expects the revised proposal to be immediately accretive to its adjusted earnings per share and free cash flow. The company anticipates achieving more than $100 million in annual cost synergies, with greater than $75 million of those to be realized in the first full quarter of combined operations.
Microsemi estimates about $0.60 of adjusted earnings per share accretion in the first full year after closing the transaction.
For comments and feedback contact: editorial@rttnews.com
Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.