Shares of Atheros Communications Inc. (ATHR) are up sharply in late Tuesday trading. Strength being attributed to a Dealbook article that says Qualcomm (QCOM) is near a deal to buy Atheros Communications for about $45 per share, or $3.5 billion.
The deal, which if completed would represent a roughly 22 percent premium to where Atheros’s stock traded midday on Tuesday, could be announced as soon as Wednesday, Dealbook said.
A purchase of Atheros would be Qualcomm’s largest acquisition ever.
At last check, shares of ATHR were up $6.27, or 17.13%, to $43.48. Atheros has a 52 week low of $22.77 and a 52 week high of $41.00. The stock has a market cap of $2.91 billion and a 50-day moving average of $33.73.