PMC-Sierra Confirms Receipt of Unsolicited Proposal from Microsemi

)-- PMC-Sierra, Inc.

announced Friday, that it received an unsolicited proposal from Microsemi Corporation

to acquire all of the outstanding shares of PMC common stock, in a cash and stock transaction. Under the terms of Microsemi's proposal, PMC stockholders would receive $9.04 in cash and 0.0771 of a share of Microsemi common stock for each share of PMC common stock held at the close of the transaction. Based on the closing stock price of Microsemi common stock on Oct. 29, 2015, the Microsemi proposal was valued at $11.88 per share of PMC common stock. PMC had previously announced (on October 30,