Why Montage (MONT) Is Jumping Today

NEW YORK (TheStreet) -- Montage Technology (MONT) was gaining 20.3% to $20.65 Monday on news that the chipmaker received a non-binding proposal from Shanghai Pudong Science and Technology to acquire the company.

In the proposal letter the state-owned PDSTI proposed to acquire all outstanding ordinary shares of Montage for $21.50 a share in cash. The company said its board it reviewing and evaluating the proposal, and no decision has yet been made. Even with the proposal letter there is no guarantee an offer will be made for the company.

Must read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

MONT ChartMONT data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers