Inphi Soars 33% On Report Chipmaker Marvell Is In Talks To Buy It For $10 Billion

snagarajan@businessinsider.com (Shalini Nagarajan), Business Insider
Thu, 10/29/2020 - 4:48am

Smith Collection/Gado/Getty Images Semiconductor firm Inphi leapt as much as 33% in premarket trading on Thursday, after the Wall Street Journal reported that Marvell Technology could buy the company for as much as $10 billion.A deal could come as soon as next week, sources told the Journal.The potential agreement would add to Marvell's reach in the networking industry, which has been one of Inphi's strongest growth-drivers this year.The deal marks the second biggest tie-up this week in the semiconductor industry.Visit Business Insider's homepage for more stories.Inphi Corp shares soared as much as 33% in pre-market trading on Thursday after the Wall Street Journal reported that chipmaker Marvell Technology is in talks to buy the California-based company for as much as $10 billion.

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BING NEWS:
  • Marvell to Buy Rival Chip Company Inphi in Cash-and-Stock Deal
    Marvell agrees to pay $66 a share in cash and 2.323 shares of stock for each share of Inphi. Marvell said in a statement Thursday it intends to reorganize so that the combined company will be ...
    10/29/2020 - 7:03 am | View Link
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