• Mon. Nov 30th, 2020

Dimancherouge

Technology

Xilinx Shares Surge on Reports of $30 Billion AMD Takeover

Xilinx Inc.  (XLNX) – Get Report shares surged the most in nearly a year Friday following a report from the Wall Street Journal that the San Jose-based tech group could be bought by its chipmaking rival Advanced Micro Devices.  (AMD) – Get Report.

The Journal said the pair were in advanced merger talks that could value Xilinx at more than $30 billion, a 16% premium to the group’s closing price on Wall Street last night. Xilinx’s data-center chips have become much more valuable since the coronavirus pandemic triggered a surge in work-from-home dynamics that have pressured companies around the world to improve their technology and storage capabilities. 

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