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I see a disconnect. Somebody knowledgeable, please comment.

here it goes :

Atmel had a deal with Dialog Semiconductor worth 4.6 Billion Dollars on September 15 already, refer [0] [1].

Microchip manage to break that deal with 137 Million dollar termination fee, but with a deal worth of 3.6 Billion Dollars.

That's 1 Billion dollars "less" deal worth agreed by Atmel to be sold.

Sounds unbelievable!

MCHP managed to do this by giving more cash for Atmel shareholders? (..and not to forget 137 M of termination fine.)

1 Billion dollar (which was imaginary) disappeared into thin air??

If it was not of real value, then how / why Dialog over valued it?

Whoever understands all this, please comment.