Microchip finally rules itself out for CSR...

It's game over for investors that were betting on a potential counter bid from US group Microchip Technology for London-listed CSR.

This morning the US company said it will not proceed with making an offer for CSR after having approached the FTSE 250 company back in August. Here is a link to Microchip's statement: http://www.investegate.co.uk/microchip-technology/rns/statement-re-rule-2-8-no-intention-to-bid-csr-plc/201411170700041419X/

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.

Back on Tip TV talking about CSR and consolidation in the pharmaceutical sector

The lads over at Tip TV invited me back on today to congratulate me on some of my InterMune stories.

In case you are interested, here is a link to today's clip: http://www.tiptv.co.uk/archives/mergers-acquisitions-with-ben-harrington-05-09-2014/

CSR appoints new adviser following Microchip approach

Here's an interesting snippet on the CSR takeover situation. I understand CSR has brought on board Goldman Sachs as a financial adviser alongside bankers from JP Morgan Cazenove.

For readers that don't recall, CSR admitted last week that it had received a takeover approach from Microchip Technology but had rejected the US company's offer because the offer was too low. Here is a link to CSR's announcement: http://www.investegate.co.uk/csr-plc--csr-/rns/csr-confirms-approach-from-microchip-technology/201408280947112254Q/

Head scratching - part 2

Maybe I spoke (or wrote) too soon!

Microchip Technology has released a statement on the Regulatory News Service this morning although its dated from yesterday.

Here is a link to the Microchip statement: http://www.investegate.co.uk/microchip-technology/rns/mchp-confirms-preliminary-discussions-with-csr-plc/201408290700073020Q/

Head scratching

Huge hat tip to Ed Hammond and Arash Massoudi the M&A reporters over at the Financial Times for their scoop on CSR this morning. It's not easy landing these types of jackanories during August when most of the dealmaking community is away sunning themselves in the Med.

In case you missed it, here is a link to Hammond and Massoudi's piece: http://www.ft.com/cms/s/0/35629c52-2e5b-11e4-b330-00144feabdc0.html and the confirmation from CSR: http://www.investegate.co.uk/csr-plc--csr-/rns/csr-confirms-approach-from-microchip-technology/201408280947112254Q/