New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:45 EDTIRF, CODE, POWI, SMTC, IFNNY, FCSInfineon acquires International Rectifier in $3B deal
German semiconductor maker Infineon (IFNNY) agreed to buy U.S. chip marker International Rectifier (IRF) for $40 per share, the companies just announced. WHAT'S NEW: International Rectifier will be acquired by Infineon for $40 per share in cash, or $3B. Infineon said that the deal would create "a highly complementary and innovative semiconductor product portfolio, distribution strength and a stronger regional presence." It will also "complement Infineonís expertise in power semiconductors and add system know-how in power conversion, while expanding its expertise in compound semiconductors and driving greater economies of scale in production," the German company stated. WHAT'S NOTABLE: Before Infineon and International Rectifier announced the deal, Bloomberg reported that Infineon was nearing a deal to acquire a semiconductor company for $2B, but did not name the takeover target. The news service identified Power Integrations (POWI), Fairchild Semiconductor (FCS) and Semtech (SMTC) as takeover targets in the semiconductor space that have market capitalizations under $2B. The shares of all three companies, along with those of semiconductor company Spansion (CODE), rose following Bloomberg's report. Those four stocks gave back some of their gains after International Rectifier's shares were halted for news shortly before 12 PM ET. PRICE ACTION: In early afternoon trading, International Rectifier jumped 47% to $39, while Infineon gave back 3% to $11.20. Power Integrations climbed 4% to $60, Fairchild Semiconductor advanced 6% to $17, Semtech climbed 4% to $24, and Spansion gained 3% to $19.80.
News For IRF;IFNNY;POWI;FCS;SMTC;CODE From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
January 23, 2015
06:41 EDTCODECypress Semiconductor upgraded to Neutral from Underweight at JPMorgan
Subscribe for More Information
January 22, 2015
07:34 EDTFCSFairchild sees Q1 revenue $340M-$360M, consensus $352.07M
Subscribe for More Information
07:33 EDTFCSFairchild reports Q4 adjusted EPS 10c, consensus 15c
Subscribe for More Information
07:03 EDTCODESpansion sees Q1 revenue $270M-$310M, consensus $300.91M
Subscribe for More Information
07:03 EDTCODESpansion reports Q4 non-GAAP EPS 30c, consensus 30c
Subscribe for More Information
January 21, 2015
15:27 EDTFCSNotable companies reporting before tomorrow's open
Subscribe for More Information
January 16, 2015
08:01 EDTCODECypress Semiconductor, Spansion receive early termination of HSR waiting period
Cypress Semiconductor (CY) and Spansion (CODE) announced tody that the U.S. Department of Justice and FTC have granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their merger proposal. The companies have also received notification from Germany's Federal Cartel Office that the acquisition has been cleared to proceed. On December 1, 2014, Cypress and Spansion entered into a definitive agreement to merge in an all-stock, tax-free transaction valued at approximately $4B. The post-merger company will generate more than $2 billion in revenue annually and create a leading global provider of microcontrollers and specialized memories needed in today's embedded systems. Under the terms of the agreement, Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own. The shareholders of each company will own approximately 50 percent of the post-merger company.
January 15, 2015
08:56 EDTCODECypress Semiconductor shares defended on weakness, says Sterne Agee
Subscribe for More Information
January 14, 2015
16:32 EDTSMTCSemtech completes acqusition of EnVerv assets
Subscribe for More Information
January 13, 2015
11:21 EDTIFNNY, IRFInfineon sees International Rectifier acquisition accretive to pro-forma EPS
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use