ATI potential stock takeover target?

Posted on Monday, July 11 2005 @ 8:15 CEST by Thomas De Maesschalck
Analysts claim that ATI is a potential target of a stock takeover. These rumours started in June when the company disclosed disappointing third quarter results after which its stock tanked from CAN$25 to approx. CAN$14.50.
ATI's stock saw a much-needed boost at the end of the week, fueling speculation that ATI is possibly being courted or even targeted for a hostile buy. The stock hovered around CAN$14.50 for most of the week, but after a dip Thursday to $14.00, the stock shot up to 15.77, up 8.6 percent for the entire week. It had reached a peak of $15.90, which is still a far cry from the $25 range enjoyed before June, when the stock started to tank. Shares hit their 52-week low on July 7, at $13.90.
It is rumoured that AMD, Broadcom, Intel and Texas Instruments are interested in taking over ATI. More speculation at Arstechnica

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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