Philips Electronics has stepped up its campaign to acquire semiconductor firm, VLSI, but has extended its offer date from 1 April to 16 April.
Philips' originally made the $17 per share offer, which valued the deal at $805.8 million, on 5 March, but has since met with intense resistance from the VLSI board.
Two weeks' ago VLSI chiefs said Philips' offer was "inadequate" and "not in the best interests of VLSI stockholders". They also said the company would "continue to engage in exploratory discussions with a number of third parties regarding potential strategic alternatives".
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