Connectivity chip maker Lattice Semiconductor Corp said it would purchase smaller rival Silicon Image Inc for about $600 million in cash. Lattice said it would offer $7.30 per share, a premium of 23.7 percent to Silicon Image's Monday close.
Lattice Semiconductor Corporation (Lattice) designs, develops and markets programmable logic products and related software. Shares of LSCC fell by 0.45% or $-0.03/share to $6.59. In the past year, the shares have traded as low as $5.52 and as high as $9.19. On average, 895887 shares of LSCC exchange hands on a given day and today's volume is recorded at 676791.
Silicon Image, Inc. (Silicon Image) is a provider of connectivity solutions that enable the reliable distribution and presentation of HD content for mobile, consumer electronics (CE) and personal computer (PC) markets. Shares of SIMG traded higher by 0.34% or $0.02/share to $5.90. In the past year, the shares have traded as low as $4.10 and as high as $7.33. On average, 818644 shares of SIMG exchange hands on a given day and today's volume is recorded at 489915.
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