Monday, 29 September 2014

Microchip Technology appoints...nobody, apparently

I have spent the last few weeks trying to find out which investment bank has been advising Microchip  Technology on its approach for CSR, the London-listed chipmaker. So far, I haven't turned up with anything.

Anyway, it turns out there might be a good reason why I haven't managed to find out (apart from being a rubbish journalist). According to some sources following this situation, Microchip hasn't been using a financial adviser since the negotiations began.

Apparently, the US based company has been using its own internal mergers & acquisitions department and some external accountants (possibly Ernst & Young) on the deal. Perhaps, this might explain why Microchip was 48 hours late with its own announcement back in August after CSR revealed it had received a takeover approach?

Now, this whole article might seem a bit "villagey" but there is an important (well, I think at least) reason for pointing this out. I am presuming it is going to be near impossible for Microchip to complete an acquisition of CSR without employing an investment banking adviser of note (this might even be a regulatory requirement in the Takeover Panel "code").

Obviously, talks between Microchip and CSR are moving forward as the latter would not have asked the Takeover Panel for an extension to its "put up or shut up" deadline. Here is a link to that announcement: http://www.investegate.co.uk/csr-plc--csr-/rns/statement-regarding-extension-to-deadline/201409250700195545S/

But once I/we find out who Microchip has appointed to advise on the deal, it will likely indicate the US company is very serious about putting a proper offer on the table for the FTSE 250 business.

And if you find out who is advising Microchip before I do, please don't hesitate to get in touch via the usual channels.

6 comments:

  1. Great post. This article is really very interesting and effective. I think its must be helpful for us. Thanks for your nice post.
    social exchange sites

    ReplyDelete
  2. I was   about   to   say   something   on this   topic.   But   now   i   can see   that   everything   on   this   topic is   very amazing and mind   blowing,   so   i   have   nothing to   say   here.   I   am   just   going   through   all   the   topics   and being   appreciated.   Thanks   for sharing.     

    ReplyDelete
  3. I know where I'm going and l know the truth, and I don't have to be what you want me to be. I'm free to be what I want.Thankyou i really love it.

    ReplyDelete
  4. Thats a good' article, i usually amazed with' this thing, i asked myself about this opinion, I wish You'll a better articles that can make another people impressive..don't make the article feel rigit and isn't interesting and poor, i like to read this' article and i think this is "good".thank you' m'y brother...........

    ReplyDelete
  5. I was about to say something on this topic. But now i can see that everything on this topic is very amazing and mind blowing, so i have nothing to say here. I am just going through all the topics and being appreciated. Thanks for sharing.

    ReplyDelete
  6. I am very happy with this artiker, with no posting this artiker i learned a iot and I know a lot about a lot of things thanks for sharing. posting very useful. success for you brother.

    ReplyDelete