ON Semiconductor Keeps Offer Open For Fairchild

Phoenix, Arizona-based semiconductor developer ON Semiconductor said this morning that it has extended its tender offer to acquire Fairchild Semiconductor, until February 3rd. The company--which made a bid for Fairchild on November 18th--has offered to purchase all of the stock of Fairchild for $20.00 per share in cash. Fairchild is currently looking at a competing offer from Chinese companies China Resources Microelectronics Ltd. and Hua Capital Management Co., which put in an unsolicited competitive bid of $21.70 a share for Fairchild early in January. Fairchild has not increased its offer for Fairchild.