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Updated from 5:08 p.m. EDT
SAN FRANCISCO -- Atmel(ATML Quote) rejected an unsolicited bid to acquire the company Wednesday, contending that the $2.3 billion offer undervalued Atmel, even as the chipmaker separately reported that it swung to a loss in the third quarter.
Atmel CEO Steven Laub said that a string of recent restructuring moves, including selling a chip factory in Germany, are "just beginning to unlock the value in inherent" in0 Atmel.
Echoing recent comments by several other tech companies that have rebuffed unsolicited acquisition offers, Laub called the offer that Microchip(MCHP Quote) and On Semi(ONNN Quote) made for Atmel "highly opportunistic." ...
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