Takeover gossip boosts Marvell shares
Spreading rumors for fun and profit
The rumor mill helped Marvell buck a down day on the US market. Shares of the the chip maker jumped close to 5 per cent on speculation that it could be a takeover target via either TI or a leveraged buyout.
"I've heard lots of things," BWS Financial analyst Hamed Khorsand told the AP. "I've heard there may be a leveraged buy-out, I've also heard that Texas Instruments may be interested in buying them. Any stock that has fallen as much as Marvell makes for an attractive takeout target, especially with its revenue growth."
Marvell is well off its 52-week high of $36.84 per share. It ended trading on Friday up 4.5 per cent at $17.65.
The buyout speculation, however, appears to be just that. A number of analyst comments floating around the internet back up the gossip, although we've yet to find a shred of real evidence that a deal is in the works. ®