SAN JOSE, CA (Thomson Financial) - Zilog Inc said its board rejected the
unsolicited takoever offer from Universal Electronics Inc.
The board said the UEI proposal, which expired on Feb 1, "did not adequately
reflect Zilog's strategic value or the potential future value enhancements
associated with the company's new growth strategy."
The San Jose-based microchip products provider said its board has always
been favorable to maximizing shareholder value, but it does not believe that
UEI's 4.50 usd a share offer does this.
tf.TFN-Europe_newsdesk@thomson.com
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