Silicon Motion Tech hits over 6-week high on report of sale talks

Silicon Motion Technology

25/04/2022 12:18

** Shares of chipmaker Silicon Motion Technology Corp
 SIMO.O  up 6.2% at $81.85 premarket after a report that co is
exploring sale amid takeover interest
    ** The Taiwan-based company is working with advisers as it
holds talks with potential suitors, Bloomberg News reported https://bloom.bg/3OyJfJN
 on Sunday, citing people who asked not to be identified because
the deliberations are private
    ** No final decision has been made and the company could
still opt against a sale, the people said, according to the
report
    ** As of last close, SIMO has ~34.93 mln shares outstanding
worth $2.69 bln - Refinitiv data
    ** Stock down 18.9% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))