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MILPITAS, Calif. - Semiconductor maker Ixys Corp. on Friday made an unsolicited offer to buy Zilog Inc. for $4.50 per share, a 9 percent premium over Zilog stock's $4.14 closing price.
Zilog, also a semiconductor maker, in February said a $4.50 per share offer by remote-control maker Universal Electronics Inc. was too low. Zilog's stock closed at $3.62 the day before that offer.
Zilog said it received the offer and is reviewing it.
Last week, San Jose, Calif.-based Zilog said it narrowed its net loss to $1.9 million, or 11 cents per share, from $3.6 million, or 21 cents per share. Revenue fell 13 percent to $16.7 million.
In a letter to Zilog board of directors, Ixys said its offer "represents a fair market value for the company" and said Zilog has "unperformed" as an independent company.
Ixys shares rose 7 cents to $7.68 during aftermarket trading.
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