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Buyout rumors send AMD shares upwards

Posted on Thursday, August 09 2012 @ 20:17:40 CEST by

The Tech Report reports AMD's shares rose 8 percent to $4.34 on Wednesday following rumors that the company may be a takeover target for Qualcomm or Samsung:
MarketWatch doesn't get into much detail about the rumors. It only quotes Evercore Partners analyst Patrick Wang, who says Qualcomm and Samsung were both cited as candidates for a potential bid on AMD. However, Wang doesn't believe the speculation holds much water. "I think it's unlikely they get a take-out offer," he says.

Speculation is in the air, nonetheless. Last week, Sylvie Barak over at EE Times wrote a story that listed potential candidates for an AMD takeover. She named Qualcomm as the most likely one, noting that the firm already acquired assets from AMD's now-defunct handheld business a few years ago. Acquiring AMD, she added, would give Qualcomm "increased leverage with manufacturing partners like TSMC and Globalfoundries."
Today AMD's stock is down 0.57 percent to $4.38.



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