Loeb-led investors buy more than 23 million shares of Atmel

By Lisa Kerner

Charlotte, N.C., July 12 - Atmel Corp. investors led by Third Point LLC and Daniel S. Loeb bought 23,100,000 shares of the company's stock between May 14 and July 11, priced from $5.32 to $5.73 per share, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 35,000,000 shares, or 7.2%, of the company's outstanding stock.

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

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