MaxLinear drops, Silicon Motion Technology rises on merger plans

Silicon Motion Technology

05/05/2022 13:48

** U.S.-listed shares of Silicon Motion Technology Corp
 SIMO.O  surge 16.7% at $94.74, while MaxLinear Inc  MXL.O 
shares drop 13.2% to $46.52 after the two announce deal to merge
    ** MaxLinear will acquire Taiwan-based Silicon Motion in
cash and stock for $3.8 bln  urn:newsml:reuters.com:*:nL3N2WX1WD
    ** MaxLinear's offer price of $114.34 represents a 41%
premium to SIMO's closing price on Wednesday
    ** Up till Wednesday's close, Silicon Motion down 14.7% and
MaxLinear down 28.9% YTD
    

 (Reporting by Yuvraj Malik)
 ((yuvraj.malik@thomsonreuters.com))