Chipmaker CSR rejects Microchip approach, shares soar

By Paul Sandle LONDON (Reuters) - Britain's CSR has rebuffed an approach from Microchip Technology , saying its U.S. "The price proposed by Microchip has been rejected and the board is considering its options for the company," CSR said in a short statement on Thursday. CSR, short for Cambridge Silicon Radio, specializes in connectivity, with its chips used in products such as speaker docks and Apple-owned Beats headphones. Microchip, which makes memory and analog chips, agreed to buy Taiwanese wireless product maker ISSC Technologies Corp for $328.5 million in May. Buying CSR could cost it nearly 10 times as much, analysts said.



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