(Reuters) - PMC-Sierra Inc (O:PMCS) said Microsemi Corp's (O:MSCC) $2.2 billion unsolicited offer for the chipmaker could lead to a "superior proposal".
Microsemi's offer on Monday trumps a $2 billion bid from Skyworks Solutions Inc (O:SWKS) for the company.
"PMC's board of directors believes, after consultation with its financial advisers and outside legal counsel, that the Microsemi proposal would reasonably be expected to lead to a Superior Proposal," the company said in a statement.
However, the company said it was evaluating Microsemi's proposal and was yet to determine its superiority over Skyworks's bid.
PMC-Sierra said it will discuss the offer with Microsemi, but made no assurances of a definitive agreement or transaction.
PMC-Sierra, however, said it still recommended a deal with Skyworks.