SIMO - Silicon Motion jumps on report MaxLinear in talks to purchase (update)

Update 6:56am: Adds trading halts for SIMO and MXL. Silicon Motion (NASDAQ:SIMO) soared 13% in after hours trading on report that MaxLinear Inc. (NASDAQ:MXL) is in talks to purchase the chipmaker. Trading in SIMO and MXL was halted for news pending on Thursday morning. A deal may be announced in the coming days if negotiations are successful, according to a Bloomberg report. Taiwan-based MediaTek (OTCPK:MDTKF) is also said to be interested in making an offer for SIMO. The news comes after Bloomberg report last month that Silicon Motion was exploring a sale following interest following after a similar report from Betaville that there was speculation that a mystery buyer was circling the semiconductor company. Silicon Motion has a market cap of $2.6 billion. An acquisition would be the largest ever for MaxLinear (MXL), according to Bloomberg. Silicon Motion (SIMO) could be an "easy tuck-in" candidate for most fabless design houses Wedbush analyst Matt Bryson wrote

For further details see:

Silicon Motion jumps on report MaxLinear in talks to purchase (update)