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19 Sep 2006
A semiconductor company that was spun out of Motorola has accepted a $17.6bn (£9.37bn) takeover bid from a private equity group.
Freescale agreed to the buyout by a consortium that includes Blackstone Group, Carlyle Group, Permira Funds and Texas Pacific Group.
Further reading
However, as part of the deal to accept the offer, Freescale can wait 50 days to hear a higher offer from a competing consortium led by Kohlberg Kravis Roberts.
Even without a higher offer, the buyout would be the largest ever for a technology company.
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