SIMO - Silicon Motion may see a bidding war after MaxLinear deal analyst says

Silicon Motion (NASDAQ:SIMO) could see bidding war after MaxLinear (NASDAQ:MXL) agreed to acquire the company for more $114/share in cash and stock, according to Craig-Hallum. SIMO shares jumped 17.5% on the deal news. Silicon Motion (SIMO) could be an attractive acquisition target for several suitors, according to Craig-Hallum analyst Anthony Stoss. He believes a bidding war may bring the takeout price closer to $120/share. "Breakup fees are not overly aggressive either, which could make follow-on bids from other interested parties a higher likelihood," Stoss, who has a buy rating and $120 price target on Silicon Motion (SIMO), wrote in a note. The comments come as MaxLinear (MXL) shares plunged 21% on the deal announcement, an indication that holders are not pleased with the deal and MXL also was downgraded by Northland.  One rival bidder could be MediaTek (OTCPK:MDTKF) after Bloomberg late Wednesday reported that the company was also considering an offer for Silicon

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Silicon Motion may see a bidding war after MaxLinear deal, analyst says