Chip Maker Spreadtrum Mulls $1.4B Bid From Tsinghua

Law360, New York (June 21, 2013, 11:54 AM EDT) -- Chinese chip maker Spreadtrum Communications Inc. is reviewing a preliminary $1.4 billion buyout bid from a subsidiary of state-controlled Tsinghua Holdings Co. Ltd. as competition for smartphone market share in Asia heats up, the company said Friday.

Under the terms proposed Thursday, Tsinghua would fork over $28.50 for each American depositary share — a 20 percent premium over Spreadtrum's Wednesday close. The wannabe buyer said that it planned to back its purchase with debt, but that its parent pledged to provide up to $1.5 billion in...
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