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Wednesday, August 20, 2014

Infineon poised to purchase U.S. chipmaker - source, (NASDAQ: POWI)

Germany's Infineon is poised to purchase a U.S.-based semiconductor company for about $2 billion, a person close to the deal told Reuters on Wednesday. Bloomberg earlier cited people familiar with the matter as saying a deal could be announced later on Wednesday.Bloomberg had named Power Integrations, Fairchild Semiconductor and Semtech as possible targets.The person close to the deal told Reuters that Infineon was not buying Fairchild or larger Freescale and failed to comment on other candidates.

Power Integrations, Inc., (Power Integrations) designs, develops, manufactures and markets high-voltage, analog and mixed-signal integrated-circuit (IC) products and high-voltage silicon diodes. Shares of POWI traded higher by 11.06% or $6.33/share to $63.54. In the past year, the shares have traded as low as $38.07 and as high as $68.87. On average, 263492 shares of POWI exchange hands on a given day and today's volume is recorded at 507940.