U.S. chipmaker Cypress Semiconductor Corp said it would purchase peer Spansion Inc in an all-stock deal valued at about $4 billion. Spansion shareholders will receive 2.457 Cypress shares for each Spansion share they own, the companies said on Monday.
Spansion Inc. (Spansion) provides flash memory-based embedded systems solutions. Shares of CODE fell by 2.23% or $-0.52/share to $22.85. In the past year, the shares have traded as low as $12.12 and as high as $23.94. On average, 1719290 shares of CODE exchange hands on a given day and today's volume is recorded at 2191969.
Cypress Semiconductor Corporation (Cypress), delivers high-performance, mixed-signal and programmable solutions. Shares of CY fell by 1.6% or $-0.17/share to $10.43. In the past year, the shares have traded as low as $8.04 and as high as $11.30. On average, 2532820 shares of CY exchange hands on a given day and today's volume is recorded at 2968787.
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