Skip to main content

As a full-blown bidding war breaks out for Tundra Semiconductor , analysts predict the price of the microelectronics manufacturer may soar.

Tundra announced Monday that it received an unsolicited, $6.25-a-share offer from Integrated Device Technology , a San Jose, California-based semiconductor company.

The board at Tundra says this is bid is 'superior' to a friendly cash and share offer struck earlier this month with Gennum Corp. , a merger that would have created a larger domestic company. Gennum is based in Burlington, Ont. while Tundra is headquartered in Ottawa.

Story continues below advertisement

Gennum now has five days to weigh its options. There are already predictions that with two bidders now in the game, the valuation on Tundra could rise.

"We continue to believe the price proposed by IDT undervalues Tundra," said a report Monday from BMO Nesbitt Burns analyst Brian Piccioni. He has a $9 target price on Tundra stock.

IDT's bid values Tundra at $121-million, while the Gennum offer is worth $112-million.

Report an error
As of December 20, 2017, we have temporarily removed commenting from our articles. We hope to have this resolved by the end of January 2018. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to If you want to write a letter to the editor, please forward to