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Shares of

International Rectifier


rose Thursday after the company pulled a planned sale of convertible notes.

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"International Rectifier Corp. today announced that, due to adverse market conditions, the company has decided to withdraw its previously announced private offering of convertible subordinated notes," it said.

Since a recent high of $46.05 made last Friday, International Rectifier's shares were down 13% at Wednesday's close. In premarket trading Thursday, they added $2.44, or 6.1%, to $42.61.

The semiconductor outfit had planned to sell $650 million of convertible subordinated notes due 2013 in a private placement, according to a statement on Monday. Proceeds were earmarked for debt redemptions and general corporate purposes.