Oops. Late news. ON has dropped out of the bid...
18-Nov:
NEW YORK (MarketWatch) -- ON Semiconductor Corp. said Tuesday that it was withdrawing from its joint proposal with Microchip Technology Inc. to acquire Atmel Corp. ON Chief executive Keith Jackson said, "While we believe that Atmel's Nonvolatile Memory and RF and Automotive businesses would be an attractive strategic acquisition, we have decided to withdraw from the proposal due to the unforeseen deterioration in the semiconductor market since we announced our proposal as well as the unprecedented weakness in the financial markets."