VTSS Rumor [Briefing.com] Market Report -- In Play (VTSS, INTC)
October 02, 2002 12:25:00 PM ET
Vitesse Semi rises for second day -- takeover rumor cited (VTSS) 0.90 +0.03: Shares of Comm IC company rising for the second consecutive session. Yesterday, issue advanced 28% after reiterating Q4 revenue guidance. Today, rumor that INTC or PMCS might be interested in a bid for the company is contributing to gains. Of course, difficult to imagine that many boards would entertain a takeover offer when the stock is down 93% yr-to-date; though, we have seen a few depressed-share deals over the past yr.
