The proposed price for ANADIGICS jumped from $0.62 to $0.66 per share following another round of bidding between GaAs Labs and an unnamed competitor referred to as "Party A."

On January 5, Party A offered $0.62 per share, which was deemed a "superior offer" by the ANADIGICS board. On January 7, GaAs Labs matched Party A's offer with the proviso that ANADIGICS pay a higher fee should the agreement with GaAs Labs be terminated. On January 11, Party A increased their offer to $0.66 per share, which the ANADIGICS board unanimously voted the new "superior offer." GaAs Labs has two business days to respond.

In parallel with the volleying between GaAs Labs and Party A, the ANADIGICS board is negotiating with a third suitor, referred to as "Party B." On January 8, Party B submitted two proposals for $0.68 and $0.70 per share, each with varying terms. In a press release, ANADIGICS stated Party B's amended merger agreement "fails to include certain material terms and conditions requested by the company for the protection of the company and its stockholders." The press release said the company will continue to negotiate with Party B, although "there can be no assurance that the company and Party B will reach agreement on those terms and conditions."

For additional information, read ANADIGICS' SEC filing