Chinese cellphone chip designer Spreadtrum Communications will be acquired by a unit of government-owned Tsinghua Holdings for a raised offer price of about $1.78 billion.
Tsinghua Unigroup will pay $31 for each Spreadtrum American Depositary Share, up from its previous offer of $28.50 per ADS, the companies said Friday.
The offer represents a premium of 17 percent to Spreadtrum's Thursday closing price on the Nasdaq. Click here for Spreadtrum's latest price.
Spreadtrum develops chips for smartphones, feature phones and other consumer electronics products. Its chips support 2G, 3G and 4G wireless communications standards.