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Wednesday, January 5, 2011

Qualcomm to buy Atheros for $45/shr, (NASDAQ: QCOM), (NASDAQ: ATHR)

Qualcomm Inc (QCOM.O) agreed to buy Atheros Communications Inc (ATHR.O), a transaction that will bolster its share of semiconductors in smartphones and tablets. The all-cash transaction values Atheros at $45 per share, about 21.6 percent above that company's closing price on Monday. The New York Times reported the potential acquisition on Tuesday, sending Atheros shares up 18.9 percent to $44. Atheros had about 71.58 million shares outstanding as of last Oct. 20. On that basis, the transaction values the company at roughly $3.22 billion. (Reporting by Jonathan Stempel in New York; Editing by Derek Caney)