Why Sigma Designs Inc. Stock Skyrocketed Today
Shares of Sigma Designs Inc. (NASDAQ: SIGM) were up 23.7% as of 2:45 p.m. EST Friday, after the system-on-a-chip semiconductor specialist agreed to be acquired by Silicon Laboratories (NASDAQ: SLAB).
More specifically, Silicon Labs will purchase Sigma Designs for $7.05 per share in cash -- good for a premium of 24.8% over yesterday's close -- in a deal valued at roughly $282 million.
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Source: Fool.com
