Microchip Technology nominates seven for election to Atmel's board

By Lisa Kerner

Charlotte, N.C., Dec. 15 - Microchip Technology Inc. notified Atmel Corp. that it is nominating an alternate slate of directors for election at Atmel's next annual meeting.

In addition, Microchip intends to seek stockholder approval of some amendments to Atmel's bylaws, including limitations on any amendments to Atmel's bylaws after May 14, 2008 unless approved by stockholders, a Microchip news release said.

Microchip's alternate slate of director nominees includes:

• Jonathan Brooks, former chief financial officer and a director of Glotel plc;

• Dan Casey, chief executive officer and a director of Sonomax Hearing Healthcare Inc.;

• G. Carl Everett Jr., venture partner/investor with Accel Partners;

• Michael L. Hackworth, former CEO and chairman of Tymphany Corp.;

• Dr. Robert S. Pepper, former vice president of Intel Corp.'s network communications group;

• Alan G. Rieper, former managing director and senior semiconductor analyst at Credit Suisse First Boston; and

• Andrew Sukawaty, chairman and CEO of Inmarsat plc;

Microchip notified Atmel of its slate in order to preserve Microchip's flexibility as it evaluates alternatives with respect to a potential transaction with Atmel.

In November, ON Semiconductor Corp. and Microchip withdrew their $5-per-share offer for Atmel.

It was previously reported that Microchip, a Chandler, Ariz.-based semiconductor producer, and ON Semiconductor were prepared to take their $2.3 billion offer directly to Atmel's shareholders after it was rejected by Atmel's board.

ON Semiconductor is a Phoenix-based designer, manufacturer and marketer of power and data management semiconductors and standard semiconductor components.

Atmel, based in San Jose, Calif., designs and manufactures microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency components.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.