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Microchip Ups Offer for Silicon Storage Technology

Chandler, Arizona-based semiconductor firm Microchip Technology has bumped up its offer for Silicon Storage Technology, the firm said today, to $3.05 per share in cash, compared to its prior offer of $3.00 per share. According to MicroChip, the upped offer came after another party made an offer for SST last week. MicroChip said it also is buying new shares from SST equal to 19.9 percent of the firm, in cash, at the new price.