Atmel shares jump after Reuters exclusive on ON deal

Reuters exclusively reported on October 29 that chipmaker ON Semiconductor Corp has reached out to private equity firms, including TPG, about a potential cash infusion to help fund the purchase of some assets of Atmel Corp. The Reuters story was picked up by New York Times` Dealbook and other blogs. Atmel shares rose 2 percent in extended trading after the Reuters headlines. A Wedbush Morgan analyst included details from the Reuters report in his research note. The following day, ON Semi shares fell 5.2 percent, while Atmel shares surged more than 11 percent.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
Sign up for email updates

Sign up for email updates