Chipmaker Microsemi Corp offered to buy PMC-Sierra Inc for about $2.2 billion (roughly Rs. 14,255 crores), trumping a $2 billion (roughly Rs. 12,958 crores) offer by Skyworks Solutions Inc.
PMC-Sierra shares rose 11 percent to $11.38 (roughly Rs. 737) in premarket trading on Monday, below Microsemi's offer price of $11.50 (roughly Rs. 745).