- PMC-Sierra reported solid Q3'15 results.
- The strong results are supportive of a higher offer from Skyworks Solutions.
- The best way to play the deal are the suitors with Skyworks offering the best valuation even if it fails to close the deal for PMC.
After the close PMC-Sierra (NASDAQ:PMCS) released Q315 earnings. The quarterly results of buyout targets are always worth viewing since a prime reason for a board of directors to relent on a buyout is weak results. The market got a prime example of this issue with Dialog Semiconductor (OTC:DLGNF) plunging on weak Q4 guidance following agreeing to buy Atmel (NASDAQ:ATML).
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