Microchip proposed to buy Atmel

[atmel] will reduce its number of fabs from five to two by the end of the year.

Well, that doesn't sound good to me. I remember how hard it was to buy Atmel MCUs back before they had the new fabs. Or are the fabs that are being sold (and to who, in this economic climate!?) dedicated to the non-microcontroller product lines?
(vision of Microchip buying the fabs cheap, and churning out their new "enhanced midrange architecture" chips...)