(Reuters) - Chipmaker Microsemi Corp (O:MSCC) on Wednesday raised its offer to buy PMC-Sierra Inc (O:PMCS) again, two days after PMC-Sierra said it deemed Skyworks Solutions Inc 's (O:SWKS) proposal superior to Microsemi's previous bid.
Microsemi's new offer values PMC-Sierra at $12.05 per share – $9.22 in cash and 0.0771 in stock – and has an implied enterprise value of $2.3 billion, net of PMC 's cash balance, the company said.
Microsemi had on Oct. 30 hiked its offer to buy PMC-Sierra, topping a bid from Skyworks, as the bidding war to buy the chip-equipment maker escalated.