Germany’s Infineon close to acquiring Cypress Semiconductor: Bloomberg

(Reuters) – German chipmaker Infineon Technologies AG is nearing a deal to buy Cypress Semiconductor Corp, valuing the U.S. chipmaker at almost $10 billion, Bloomberg reported on Sunday.

Infineon will pay between $23-$24 a share for Cypress Semiconductor, Bloomberg reported, citing two people familiar with the matter.

The offer is at a premium of about 50% from when Bloomberg reported last week that Cypress Semiconductor was exploring options after receiving takeover interest.

Both Infineon and Cypress Semiconductor were not immediately available to comment.

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