Texas Instruments, ADI Decide Not To Pursue Acquisition Of Maxim: Bloomberg

(RTTNews) - Texas Instruments Inc. (TXN) and Analog Devices Inc. (ADI) have decided not to pursue an acquisition of Maxim Integrated Products Inc. (MXIM) at this time, the Bloomberg reported, citing people familiar with the matter.

Neither potential buyer could reach an agreement on price with Maxim, the Bloomberg reported on Friday.

Maxim never felt it needed to sell, said the people, but would have considered an offer with a large premium.

Maxim closed Friday's trading at $32.33, down $1.93 or 5.63%. Texas Instruments fell $1.34 or 2.59% to $50.36 while ADI down $0.44 or 0.87% to $49.98.

Texas Instruments reportedly held talks last year about a possible deal and Maxim also received interest from Analog Devices.

Maxim continues to work with Goldman Sachs Group Inc. on strategic alternatives, including selling the company or buying smaller chipmakers, one of the people said. It could attract interest from Chinese buyers, although its size may make a deal difficult, the report added. Maxim has a market valuation of about $9.2 billion.

Microchip Technology Inc. (MCHP) is reconsidering its interest in Atmel Corp. (ATML)after Atmel's business struggled in the fourth quarter, reports said this week.