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Oct 9, 2020

Xilinx soars in premarket after report AMD in takeover talks

AMD

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Xilinx shares jump 16 per cent in U.S. premarket trading to US$123 after reports overnight that Advanced Micro Devices is in advanced discussions to buy the company. AMD shares fell 2.6 per cent premarket.

-A takeover could be valued at US$30 billion, according to people familiar with the matter

-A combination with Xilinx would give AMD more of the pieces needed to break Intel’s stranglehold on the profitable market for data-center computer components; Intel shares +0.4 per cent premarket

-Chip stocks in Europe are outperforming after a positive update from NXP Semi and amid the consolidation talk