Fairchild Semiconductor ($FCS) said its board afte

Fairchild Semiconductor ($FCS) said its board after conducting a review and considering the advice of its legal and financial advisors, has concluded that the unsolicited proposal received on December 7 to acquire Fairchild for $21.70 per share in cash would not reasonably be expected to result in a "Superior Proposal" as defined in Fairchild's Agreement and Plan of Merger with ON Semiconductor Corp.