Dylan McGrath, EETimes
4/13/2016 09:31 AM EDT
Is a group of Chinese individual investors trying to buy IDT for $4.3 billion?
Another day, another offer for a U.S. chip firm from a group of Chinese investors. Except that this one is a bit of a head scratcher.
On Tuesday (April 12), group of what appear to be mostly Chinese individuals filed documents with the U.S. Securities and Exchange Commission (SEC) offering to buy Integrated Device Technology Inc. (IDT) for $32 in cash. The group, identified as Libin Sun, Liang Xu, Haiping Zhou, Zhibin Lin, Junping Chen, Libin Yang and Nauman Aly claim to own or have options on roughly 4.9% of IDT’s outstanding shares.