Atheros Soars On Possible Qualcomm Acquisition

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.

Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!

About Ron Haruni 1068 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

Be the first to comment

Leave a Reply

Your email address will not be published.


This site uses Akismet to reduce spam. Learn how your comment data is processed.