Microchip/Atmel Deal Could Be Announced By Early Next Week

Investors in shares of Atmel Corporation (NASDAQ: ATML) and Microchip Technology Inc (NASDAQ: MCHP) got a late-day boost in price Monday afternoon following report of a binding offer for the former by the latter. Citing "people familiar with the matter," a Reuters article suggested Microchip's offer for Atmel could come over the next week. The last few months for Atmel have included a litany of takeover interest. At one point Dialog Semi was viewed as the leading bidder, officially disclosing, on September 20, 2015, a $4.6 billion offer for Atmel. Cypress Semiconductor Corporation (NASDAQ: CY) was another early name mentioned, but the company highlighted, as of September 29, 2015, its prior offer for Atmel expired. Most recently, Atmel disclosed on December 12 the receipt of an unsolicited offer at $9 per share in cash. Several days later, by December 15, Microchip was revealed as the undisclosed bidder for the company.Spokespersons from Atmel and Microchip could not be immediately reached for comment.Atmel shares, which had traded in negative territory throughout most of Monday's session, rallied nearly 1.3 percent minutes ahead of the bell to close up about 0.8 percent at $8.68. Shares of Microchip closed in the red following the report, but jumped more than a percent on the heels of the Reuters article.