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Well - find us another one...only mention it

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eastunder Member Level  Wednesday, 02/09/11 02:52:38 PM
Re: ScovilleUnits post# 116
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Well - find us another one...only mention it this time. :)

Good story to keep an eye on though. I'm gonna watch it. SMSC needs to top 2.45 - correct? And who's to say the private equity firm won't raise their bid again. It's tug of war.



Conexant shares jump; SMSC could raise bid
12:59 pm ET 02/08/2011- MarketWatch Pulse News Bullet
SAN FRANCISCO (MarketWatch) -- Conexant Systems Inc. shares jumped 17% to $2.46 on Tuesday after the maker of chips for consumer products like digital picture frames said late Monday it had received a takeover offer from a private-equity firm of $2.35 to $2.45 a share. The offer topped an earlier deal from Standard Microsystems Corp. . Conexant also reported quarterly results but did not give an outlook or hold a conference call. Jefferies analyst Blayne Curtis raised the firm's price target to $2.45 and kept its hold rating, while noting "there is a high likelihood that SMSC raises its offer given the strategic fit." SMSC shares rose 3.1%.

“Bunny slippers remind me of who I am. You can't get a swelled head if you wear bunny slippers." ~ Dean Koontz
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