AON - Xilinx deal spread with Advanced Micro Devices widens to highest ever

The deal spread between Xilinx (NASDAQ:XLNX) and Advanced Micro Devices (NASDAQ:AMD) had widened to $65/share, or about 45%, the highest since the deal was announced in October. Xilinx fell 4.1%, while AMD rose 7.5%. One reason for Xilinx's (XLNX) move down may be that risk arb investors can't handle the potential downside for Xilinx (XLNX) if a deal with AMD (AMD) were to fall apart as AMD's shares continue to rocket higher, according to CNBC's David Faber. CNBC's Jim Cramer also said he believed that AMD (AMD) has become a meme stock at this point. AMD shares have jumped almost 25% in the past two weeks. Risk arb investors may also be "de-risking" due to heightened antitrust risk after Aon (NYSE:AON) and Willis Towers Watson (NASDAQ:WLTW) abandoned their $30B deal last week after the U.S. sued to block the deal and after a report from The Information last night that the U.S. DOJ is considering

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Xilinx deal spread with Advanced Micro Devices widens to highest ever