Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 5, 2011

Qualcomm to buy Atheros for $3.2 billion cash, (NASDAQ: QCOM), (NASDAQ: ATHR)

Qualcomm Inc (QCOM.O) plans to buy Atheros Communications Inc (ATHR.O) for roughly $3.2 billion in cash, a transaction that will bolster its share of semiconductors in smartphones and tablets. Qualcomm said on Wednesday it will pay $45 per share for Atheros, representing a 21.6 percent premium over Monday's closing price. The New York Times reported the potential acquisition on Tuesday, sending Atheros shares up 18.9 percent to $44 on the Nasdaq. In pre-market trading, Atheros shares rose 69 cents to $44.69, and Qualcomm shares rose 43 cents to $51.40.