Atmel Acknowledges Receipt of Unsolicited Proposal for $9.00/Share in Cash

Atmel Corporation

today announced that it has received an unsolicited proposal to acquire all of the outstanding shares of Atmel common stock. Under the terms of the proposal, Atmel stockholders would receive $9.00 in cash per share, with the option to receive, in lieu of cash, shares of the acquiror in an amount of up to $1.0 billion in aggregate value, based on a ten-day trailing average of the acquiror's closing stock price measured as of transaction close. Atmel announced on September 20, 2015 that it had entered into a merger agreement with Dialog Semiconductor plc

pursuant to which Dialog would acquire Atmel, with each share of Atmel common stock issued and outstanding immediately prior to the merger (other than dissenting shares and shares held by Dialog, Atmel or any of their respective subsidiaries) converted into the right to receive (A) 0.112 American Depositary Shares of Dialog, with each whole ADS representing one ordinary share of Dialog, (B) $4.65 in cash, without interest, and (C) cash in lieu of fractional ADSs as contemplated in the merger agreement.  Atmel's board of directors, in consultation with