The recent report by Business Times about Chartered Semiconductor Manufacturing Ltd., the world’s third-largest contract chipmaker, receiving a bid from Abu Dhabi’s Advanced Technology Investment Co, has been denied by the company.

The company said that it has not received any such bid from ATIC, while adding that Chartered engages various parties in discussions to pursue business opportunities or concerning the strategic direction of the company from time to time.

The Business Times had reported today that Chartered has received an offer from Advanced Technology to buy its shares from Temasek Holdings Pte, which owns a stake of about 60 percent, at S$2.40 to S$2.60 per share, valuing the chipmaker at about S$2.45 billion. Astonishingly, it didn’t even consider any source or official.

The news was categorized as a rumor by Temasek, which denied commenting to anything.

The report by Business Times also added that Chartered’s shares hiked 7.4 percent to S$2.18 in Singapore trading yesterday on account of speculation of a Middle East bid.

Temasek has maintained that it is not Temasek’s policy to comment on market rumors.

(via TopNews Arab Emirates. Contributed by Faarooq Mehmood)