I remember when people thought Transmeta would buy AMD. I guess I should have shorted it then (but I never have had the guts to short stocks).
I think AMD can get most of what it wants for free from Transmeta. Just a few calls to a local headhunter and some stock options should deliver it interviews with some of the best low power chip designers out there.
$185 Million is still big bucks to AMD. They like to buy companies in the $40 million range (Alchemy and Geode).