Microchip granted extension to continue talks with CSR

LONDON (Reuters) - British chipmaker CSR said the UK takeover panel had granted its U.S. suitor Microchip Technology an extension of a deadline governing how long it has before it must make a firm offer for the company.

Microchip, whose approach to CSR was rebuffed in August, and CSR now have until 1600 GMT (5 p.m. BST) on Oct. 15 to continue their discussions by which time Microchip must either announce its intention to make an offer for CSR or walk away.

The previous deadline was 1600 GMT on Thursday.

(Reporting by Sarah Young; Editing by Pravin Char)