SAN FRANCISCO—In an apparent bid to thwart a hostile takeover attempt by Microsemi Corp., Canadian chip vendor Zarlink Semiconductor Inc. said Monday (July 25) that its board of directors has adopted a limited duration shareholder rights plan that prevents anyone from acquiring the right to vote on more than 20 percent of the company's outstanding shares.
Zarlink's board also authorized the issue of one share purchase right for each of the company's outstanding shares at the close of business Monday. The rights will become exercisable if a person, company or group holding more than 20 percent of the firm's stock announces a takeover bid for Zarlink, the company said. Each share purchase right would entitle holders of Zarlink to buy common shares at a substantial discount, Zarlink said.
I think that depends on your point of view. I'm sure the board members believe they are acting in the best interest of shareholders because ultimately they think an acquisiition by Microsemi (at the offered price of $549 million) is bad for Zarlink. But no doubt that others feel differently.
David Patterson, known for his pioneering research that led to RAID, clusters and more, is part of a team at UC Berkeley that recently made its RISC-V processor architecture an open source hardware offering. We talk with Patterson and one of his colleagues behind the effort about the opportunities they see, what new kinds of designs they hope to enable and what it means for today’s commercial processor giants such as Intel, ARM and Imagination Technologies.