Xilinx soars 17% on report rival AMD is in talks to buy it for $30 billion
Reuters
- Chip producer Xilinx leaped as much as 17% on Friday after The Wall Street Journal reported Advanced Micro Devices is in talks to buy the firm for more than $30 billion.
- A deal could come together as soon as next week and mark the latest major acquisition in the semiconductor industry, sources told The Journal.
- Xilinx closed Thursday with a market cap of nearly $26 billion, making the potential takeover price an appealing prospect for shareholders.
- Should the deal go through, it would fortify AMD’s standing in the communications technology space and help it better compete with rival firm Intel.
- Watch Xilinx trade live here.
Chipmaker Xilinx surged as much as 17% on Friday after The Wall Street Journal reported Advanced Micro Devices is in talks to buy