Friday, April 8, 2011

NXP Semiconductors Rallies On Takeover Chatter

Shares of NXP Semiconductors NV (Nasdaq: NXPI) surged more than 6% in Friday's pre-market trading after Reuters, citing Dutch paper De Telegraaf, reported that the Dutch chip maker is in takeover talks with Intel (Nasdaq: INTC), Qualcomm (Nasdaq: QCOM) and others. NXP specializes in chips used for payments with mobile phones, making it an attractive target. NXP's chief executive told Reuters in November he ruled out any consolidation in the semiconductor industry in the mid term because major players are focused on organic growth as they emerge from the global recession. Stay tuned fore more.

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