The Financial Times said that semiconductor company Freescale sold shares at the bottom of an already reduced price range, raising US$783 million rather than the “billion-plus” that had been anticipated. Freescale’s owners, private equity firms Blackstone, Carlyle, Permira and TPG, are set to use the cash to reduce the chip maker’s debts – although the low valuation will also mean that these companies will make a paper loss on the value of their holdings.
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