Tundra attracts second suitor

Ottawa’s Tundra Semiconductor Corp. is weighing Tundra-cropped.JPG a new, $120.8-million offer from California-based Integrated Device Technology Inc. (IDT) to acquire all its outstanding common shares. The new bid trumps a roughly $112 million in cash and stock offer (April 16) from Burlington, Ont.-based Gennum Corp. IDT’s all-cash overture is not subject to any due diligence terms, and Tundra’s board has until May 1 to reply. However, if the company accepts the IDT offer it will be on the hook to Gennum for a $5 million termination penalty. Click here for more information.

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