CSR for sale, says FT

CSR has appointed a bank to advise it on offers from other semiconductor companies to take it over, reports the FT.

It is thought by the FT that the company could attract a bid of up to $3 billion.

After news of the sale was leaked, the shares shot up 23% to over £7, valuing the company at around $2 billion.

Two years ago, CSR sold its WiFi, Bluetooth and GPS chip development operations to Samsung for $310 million and Samsung paid £2.23 a share for a 5% stake in the company which it sold earlier this year, in January, for £6.60 a share.

david manners

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