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STMicroelectronics Said to Weigh Bid for Fairchild Semiconductor

Bloomberg, Oct. 27, 2015 – 

STMicroelectronics NV is considering a bid for Fairchild Semiconductor International Inc. as Europe's largest chipmaker seeks to boost growth and shore up its digital products business, according to people familiar with the matter.

The Geneva-based company has conducted analysis as it explores an offer for the U.S. chipmaker, said the people, asking not to be identified discussing internal deliberations. Fairchild jumped 4.3 percent to $17.55 on Tuesday in New York for a market value of $2 billion. STMicro may decide against an acquisition of this size to focus on improving profitability and managing costs, two of the people said.

STMicro has struggled to revive sales and generate consistent profit amid waning personal-computer demand and competition from rivals such as Texas Instruments Inc. Chief Executive Officer Carlo Bozotti told investors in May that he's weighing options for the digital business as part of a pledge to fix continued losses at the unit. Fairchild makes semiconductors that regulate power in electronics, chips for cars and electronic signal converters.

A representative for STMicro declined to comment whether the chipmaker is interested in a bid for San Jose, California-based Fairchild.


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