- Skyworks terminates PMC-Sierra deal after the target accepts a higher bid from Microsemi.
- The company was expected to match the minimal increase in the deal price.
- The stock remains an attractive investment based on organic growth targets not reliant on a deal for PMC-Sierra.
In a surprise move, Skyworks Solutions (NASDAQ:SWKS) stepped away from the bidding war for PMC-Sierra (NASDAQ:PMCS). Or maybe the move wasn't surprising, watching PMC accept a bid last week where Microsemi (NASDAQ:MSCC) only increased the bid price by $0.18.
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