Morrison & Foerster and Wilson Sonsini Goodrich & Rosati have the lead roles on Tsinghua Unigroup Ltd’s proposed $917 million acquisition of Chinese semiconductor maker RDA Microelectronics Inc.
Nasdaq-listed RDA said in a press release that the board of directors is currently evaluating the proposal along with a $790 million September bid submitted by state-owned Shanghai Pudong Science and Technology Investment Co., Ltd. No decision has been made on either proposal or other potential strategic alternatives, said RDA.
Tsinghua Unigroup is a subsidiary of Tsinghua Holdings Co. Ltd., which is state-owned and funded by Tsinghua University, China’s leading university for science and technology. The RDA buyout bid follows Tsinghua Unigroup’s $1.78 billion takeover of Nasdaq-listed Chinese smartphone chip-maker Spreadtrum Communications Inc in July.
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