Spreadtrum to be acquired by Tsinghua Holdings for $1.78 bln

July 12 Fri Jul 12, 2013 6:21am EDT

July 12 (Reuters) - Chinese cellphone chip designer Spreadtrum Communications Inc agreed to be acquired by a unit of government-owned Tsinghua Holdings Co Ltd for a raised offer price of about $1.78 billion, the companies said.

Tsinghua Unigroup Ltd will acquire Spreadtrum's outstanding shares for $31 per American Depositary Share (ADS), up from its previous offer of $28.50 per ADS.

Spreadtrum said in June it had received a $1.38 billion buyout proposal from Tsinghua, and was evaluating the proposal.