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Chipmaker RF Micro to buy TriQuint for $1.6 billion in stock

24
Feb
2014

(Reuters) – Radio frequency chipmaker RF Micro Devices Inc will buy peer TriQuint Semiconductor Inc for about $1.6 billion in an all-stock deal to create a company that could better compete in selling chips to mobile-handset makers. TriQuint’s shares jumped 29 percent in premarket trading to $11.9, above the implied offer price of $9.73. RF Micro’s stock rose 17 percent before the bell. TriQuint shareholders will receive 1.675 shares of the new combined company for every share held and RF Micro shareholders will receive 1 share of the new entity, the two companies said in a joint statement.

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