August 28, 2014 --The Board of CSR plc ("CSR") notes recent press speculation and confirms that it has received an approach regarding a possible offer for the company from Microchip.
The price proposed by Microchip has been rejected and the Board is considering its options for the company.
This statement is being made by CSR without prior agreement or approval of Microchip. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made.
As required by Rule 2.6(a) of the Code, Microchip is required, by not later than 5.00 p.m. on 25 September 2014, to either announce a firm intention to undertake a transaction in accordance with Rule 2.7 of the Code or announce that it does not intend to undertake a transaction, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.