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Motorola to Sell Computer Chip Division to Texas Buyout Firm.
Knight Ridder/Tribune Business News, May, 1999 by Rolwing, Rebecca
Knight Ridder/Tribune Business News
May 12 -- A day after a group of former executives announced an ambitious buyout bid for Motorola's low-end chip business, the company said it has already sewn up a $1.6 billion deal to sell the division to a Texas buyout firm.
Motorola Inc. said Tuesday that it plans to sell its Phoenix-based Semiconductor Components Group to Texas Pacific Group, the investment vehicle of prominent financier David Bonderman.
The announcement apparently quashes a competing bid from an obscure Tempe company created by former Motorola executives seeking to buy the division, which has 10,000 employees, including 2,500 in the Valley.
While the principals of TFG Acquisition Corp. say they will make a counter offer of...
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