Microsemi offers premium for PMC-Sierra

Microsemi Corp. (Nasdaq: MSCC) offered a premium of approximately $2.2 billion in cash and stock to acquire PMC-Sierra (Nasdaq: PMCS) topping a $2 billion bid by Skyworks Solutions Inc. (Nasdaq: SWKS). Shares of PMC-Sierra stock climbed $1.36 to $11.60 while Microsemi stock tumbled $2.39 to $34.97. Skyworks Solutions stock dropped $2.03 to $77.57.