Why Xilinx Stock Jumped Today
Shares of Xilinx (NASDAQ: XLNX) leaped 8.6% on Tuesday after the company said it would be acquired by rival Advanced Micro Devices (NASDAQ: AMD).
AMD reached an agreement to purchase Xilinx for $35 billion in stock. Under the terms of the deal, Xilinx stockholders will receive 1.7234 shares of AMD stock for each Xilinx share they own. That values Xilinx's shares at about $143, or nearly 25% higher than their closing price on Monday.
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Source Fool.com
