Cypress Semiconductor drops bid for chipmaker Atmel

Reuters News
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Posted: Sep 28, 2015 12:58 PM

(Reuters) - Chipmaker Cypress Semiconductor Corp said it had withdrawn an offer for chipmaker Atmel Corp after the offer expired.

Cypress said on Monday that it had submitted an offer to Atmel's board.

Atmel agreed this month to be bought by Dialog Semiconductor Plc for about $4.6 billion.

Reuters had exclusively reported on Sunday that Cypress was working on an offer to acquire Atmel.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)