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From the ON Semiconductor website:

ON Semiconductor Withdraws from Proposal to Acquire Atmel

Microchip Intends to Evaluate its Potential Alternatives following ON 
Semiconductor’s Withdrawal

Phoenix and Chandler, Arizona, November 18, 2008 – ON Semiconductor 
Corporation (NASDAQ: ONNN) today announced that it is withdrawing from 
its joint proposal with Microchip Technology Incorporated (NASDAQ: MCHP) 
to acquire Atmel Corporation (NASDAQ: ATML).

Keith Jackson, President and Chief Executive Officer of ON Semiconductor 
said, “While we believe that Atmel’s Nonvolatile Memory and RF and 
Automotive businesses would be an attractive strategic acquisition, we 
have decided to withdraw from the proposal due to the unforeseen 
deterioration in the semiconductor market since we announced our 
proposal as well as the unprecedented weakness in the financial markets.”

Steve Sanghi, President, Chief Executive Officer and Chairman of 
Microchip said, “We are disappointed that difficult semiconductor 
industry and financial market conditions have resulted in ON 
Semiconductor withdrawing from our joint proposal to acquire Atmel. As a 
result of ON Semiconductor’s withdrawal, Microchip must also withdraw 
its $5 per share offer for Atmel. However, Microchip intends to evaluate 
its potential alternatives for pursuing a transaction without ON 
Semiconductor.”