VLSI takes Philips’ $1.27 billion bid

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VLSI takes Philips' $1.27 billion bid

VLSI Technology Inc. has agreed to accept Philips Electronics N.V.’s hostile bid of $1.27 billion.

After being rebuffed earlier this year, Philips raised its bid for the computer chip maker from the orginal offer of about $776 million.

ZD Interactive Investor analysts say the deal makes sense for Philips because many of its other businesses are struggling. Philips absorbed Lucent Technologies Inc.’s 40 percent stake of a mobile phone joint venture, at a time when Philips’ consumer electronics business is showing lackluster performance.

The full story is posted at http://www.zdii.com.

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