Consolidation in the semiconductor sector stepped up this week when UK chip designer CSR (CSR) received a potentially knockout bid within hours of the expiry of a Takeover Panel deadline. CSR was already on the block after revealing an approach from Microchip Technology last month, but the cash bidder turned out to be Qualcomm, the world's largest supplier of microchips to mobile phones.
The offer, at 900p a share, values CSR at £1.56bn and rival Microchip, which recently issued a profit warning, may struggle to trump it.
