Philips' hostile bid for VLSI turns friendly

Philips’ hostile bid for VLSI turns friendly
Tom Foremski
VLSI Technology and Philips Electronics are reported to be working out confidentiality agreements that could turn Philips’ hostile bid for VLSI into a friendly one.
The confidentiality agreements will allow VLSI to disclose confidential data on its business, including new products under development and other key technologies. This data will allow Philips to better understand the intrinsic value of VLSI and may result in a higher bid.
VLSI recently rejected Philips’ $17 per share offer saying that it is inadequate and it invited competing bids from other companies. Philips has not said it will raise its offer but said it will meet with VLSI to negotiate purchase terms.


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