Freescale Semiconductor is selling out for a cool $17.6 billion. And that makes it the biggest tech buyout in history (#2 on the list is the SunGard deal, which sold-out for $11.3 billion). Freescale, which was a division of Motorola, has mega clients like Sony, Whirlpool, Ford and GM.

The investors in the buyout include a group of top-tier private equity firms: Blackstone Group, Carlyle Group, Permira Funds and Texas Pacific Group.

However, there's a hitch. Freescale has the option -- for the next 50 days -- to evaluate other offers (so, if you have $17.6+ billion to spare, give 'em a call). But there is a consequence to it -- a $300 million break-up fee.

Yes, in the rarefied world of private equity, everything is on a grand scale.

What's more, with its new financial backers, Freescale is likely to buy companies as well. In fact, with tech making a comeback, it looks like there may be many more deals for semiconductor companies.

Which ones?

Well, according to Joe Osha, an analyst with Merrill Lynch, the following look like buyout bait:

Advanced Analogic Tech (AATI)
Analog Devices (ADI)
IDT (IDTI)
Intersil (ISIL)
Linear Technology (LLTC)
LSI Logic (LSI)
Microchip (MCHP)
Netlogic (NETL)
Silicon Labs (SLAB)
Xilinx (XLNX)

Tom Taulli is the author of various books, including the Complete M&A Handbook and operates InvestorOffering.com.

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