ATIC Offers $1.8B Chartered Semiconductor (CHRT)

Abu Dhabi's state fund ATIC has offered to buy Singapore contract chipmaker Chartered Semiconductor (Nasdaq: CHRT) for $1.8 billion as it looks to become a major force in the global microchip industry.

This would be the second big investment by Advanced Technology Investment Co (ATIC) after it spent $2.1 billion earlier this year on a 55.6 percent stake in a joint venture, Globalfoundries, with Advanced Micro Devices.