Columbia Pacific Approached Vitesse Semi (VTSS) About Possible Takeover

In a 13D filing on Vitesse Semiconductor Corp (Nasdaq: VTSS), hedge fund Columbia Pacific Advisors, LLC reported a 9.82%, or 3,698,214 share, stake in the company.

The following is from the filing:

The Reporting Persons have been approached by an advisor to a well-
capitalized North American-headquartered semiconductor designer regarding their
interest in acquiring the Issuer for a potentially very substantial premium.
The Reporting Persons understand that the Issuer's Board of Directors has been
made aware of the potential acquirer's interest in acquiring the Issuer and the
potential premium the acquirer would potentially pay to acquire the Issuer but
believe that no formal indication of interest has been communicated to the
Issuer. The Reporting Persons are making this disclosure to avoid trading
restrictions while possibly in possession of material, non-public information.

The Reporting Persons urge the Issuer's board of directors to give
prompt, serious consideration to this and any other expressions of interest in
acquiring control of the Issuer.

For more notable holders of VITESSE SEMICONDUCT stock click here.

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