Fairchild Acknowledges Receipt Of Revised Proposal

(RTTNews) - Fairchild Semiconductor International Inc. (FCS) acknowledged receipt of a revised, unsolicited proposal to acquire all of the outstanding shares of common stock of Fairchild for $21.70 per share in cash.

Fairchild noted that its board will carefully review and consider the Revised Proposal.

As previously announced on November 18, 2015, Fairchild entered into an Agreement and Plan of Merger with ON Semiconductor Corp. (ONNN), under which a wholly owned subsidiary of ON Semiconductor has agreed to acquire all of the outstanding shares of Fairchild common stock for $20.00 per share in cash.

Fairchild remains subject to the Merger Agreement and Fairchild's board of directors has not changed its recommendation in support of the Merger Agreement.