Shares of Freescale Semiconductor(FSL Quote) were among technology's winners Monday, jumping 18% after the chipmaker confirmed that it is in discussions for a "possible business transaction."
The New York Times reported Monday that the Austin, Texas, company is in talks to be acquired by a consortium of private equity firms for more than $16 billion. According to the news report, Texas Pacific Group, Blackstone Group and Permira are among the firms interested in buying the company. The Times report also said that Kohlberg Kravis Roberts and Silver Lake Partners are part of another group interested in buying the company. Freescale said that there can be no assurances that any deal will be reached. "To protect the interests of its stockholders, employees and customers, Freescale said that it will not comment further on these discussions unless and until it is appropriate to do so," the company said. Shares were trading up $5.54 to $36.29. Dell(DELL Quote) fell 2% after the personal computer maker delayed its quarterly filing with the Securities and Exchange Commission. The company said it is unable to make the second-quarter filing on time because of questions surrounding an SEC informal probe into accounting and financial reporting matters and a subsequent investigation launched by the company's audit committee. The investigations, the company said, have turned up the possibility of misstatements in prior financial reports. "We have not yet reached any conclusion on materiality as to these issues," Dell said. In response to these developments, the company has suspended its ongoing share buyback plan and postponed an analyst meeting that was scheduled for Wednesday. Shares were trading down 49 cents to $21.16.- Loading Comments...
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