Deals and IPOs

Chipmaker Microsemi offers to buy PMC-Sierra in $2.4 bln deal

Chipmaker Microsemi said it had offered to buy chipmaker PMC-Sierra in a deal valued at about $2.4 billion.

Microsemi's offer of $11.50 per share represents a premium of about 12 percent to PMC's Friday close.

Apple supplier Skyworks Solutions Inc said on Oct. 5 that it would buy PMC-Sierra for $2 billion in cash.