Updated for latest prices. Adds information on Expedia, Cubist Pharmaceuticals, Questcor Pharmaceuticals, and Meru Networks.
NEW YORK (
) -- A
sparked a rally in other chip companies in Monday's after-hours action.
Shortly after the closing bell,
disclosed an agreement to acquire
in an all-cash deal worth $6.5 billion, or $25 per share.
The consideration represents a premium of roughly 78% to the $14.07 closing price for National Semi's stock in the regular session. The shares haven't participated in the broad market's rally this past year, falling nearly 3%.
Monday's extended session was another matter entirely as the stock was last quoted at $24.30, up 73%, on volume of 8.4 million, according to
. Texas Instruments' shares slipped 1.6% to $33.58 on volume of around 1.2 million.
Texas Instruments plans to fund the deal with "a combination of existing cash balances and debt" and expects the transaction to close in the next six-to-nine months, assuming the receipt of regulatory and shareholder approval.
The news pushed up shares of
Advanced Micro Devices
, up 3.3% to $8.37 on volume of around 1 million;
, gaining 4.4% to $40.20 on volume of less than 400,000;
, adding 3.2% to $19.57 on volume of around 90,000;
, rising 5% to $18.55 on volume of around 25,000;
, advancing 8% to $13.10 on volume of less than 50,000;
, up 5.5% to $10.20 on volume of around 230,000; and
, surging 3.2% to $12.50 on volume of 180,000.
Another big mover in late trades was
Duoyuan Global Water
( DGW), which announced after the close that Chief Financial Officer Stephen Park plans to leave the company.
The news comes on the heels of
earlier on Monday.
The stock finished the regular session down 27% at $3.99, and was off another 7.5% to $3.69 in late trades. Volume was more than 8.6 million in regular trading vs. the issue's three-month daily trading average of around 416,000. More than 160,000 shares changed hands in the after-hours session.
Duoyuan Global said in its press release that Park is leaving the company to "pursue another professional opportunity" and that he plans to stay on board until either June 30 or the completion of a third-party review, whichever comes first.
shares advanced in late trades after the reached terms on a distribution agreement with
, a unit of
Expedia's stock was last quoted at $23.65, up 5.4%, on volume of around 87,000, according to
. AMR edged up 1.1% to $6.34 with roughly 60,000 shares changing hands.
Additional terms of the agreement weren't disclosed. Expedia and American Airlines have been at odds since early January. At the heart of the dispute was the insistence of American Airlines that its flight information be accessed through a direct electronic link, rather than global distribution system technology, and the press release seemed to indicate an accommodation had been made.
Other stocks making notable moves after the bell included
, which gained more than 14% to $28.94 on volume of 1.2 million after the company settled a patent lawsuit related to its Cubicin drug for blood infections with
and hammered out a licensing agreement;
, which surged 18% to $17.60 on volume of around 220,000 after forecasting strong first-quarter results with sales projected at $48.6 million; and
, which fell 6% to $17.70 on volume of less than 10,000 after giving a disappointing revenue forecast for its first quarter because of delays in the approval of certain deals, primarily in the United States.
Written by Michael Baron in New York.
>To contact the writer of this article, click here:
>To submit a news tip, send an email to:
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.