Conexant (CNXT) - Get VanEck Vectors ChinaAMC SME-ChiNext ETF Report was on the move higher a day after saying it expects cash proceeds of roughly $100 million when Acquicor Technology (AQR) completes its purchase of Jazz Semiconductor.
Shares of Conexant advanced 7 cents, or 3.7%, to $1.99.
Acquicor, a company founded by Steve Wozniak and other former
executives, has agreed to acquire privately held Jazz in a transaction valued at $260 million.
Jazz was formed in 2002 as a joint venture between Conexant and the private equity firm Carlyle Group. Conexant owns 42% of Jazz, a semiconductor-wafer maker.