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PMC-Sierra ponders sale, reports say

Posted: 10 Apr 2012 ?? ?Print Version ?Bookmark and Share

Keywords:networking chip? sale? buyer?

According to a Reuters news service report that cited unnamed sources, PMC-Sierra Inc. has had discussions with potential buyers in the last few months. It went on to say that the networking chip maker's board of directors is considering the sale of the company under pressure from an activist investor.

Ralph Whitworth, founder of Relational Investors, stated in a regulatory filing in January that the firm acquired a 7.17 percent stake in PMC and said the company should explore strategic alternatives, according to the report.

Sources told Reuters that a deal for PMC is not imminent, according to the report, which speculates that Marvell Technology Group Ltd and Broadcom Corp. could be potential buyers.

A spokeswoman for PMC did not immediately respond for requests for comment on the Reuters report.

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