Grrr.... so frustrating.  One of our mainstay holdings for the past 3 years - Atheros Communications (ATHR) looks like it will be bought out for Qualcomm for $3.5 Billion of $45/share.  Not only do we miss out on the buyout but one less candidate for the future portfolio. 

Per NYT:

  • Qualcomm is near a deal to buy Atheros Communications, a semiconductor manufacturing company, for about $45 per share, or $3.5 billion, according to two people with direct knowledge of the talks.
  • A deal could be announced as soon as Wednesday, said these people, who requested anonymity because they were not permitted to talk publicly about the deal. They added that the talks were in their final stages but could still fall apart.
  • The deal would represent a roughly 22 percent premium to where Atheros’s stock traded midday on Tuesday. Atheros stock has jumped about 50 percent off its lows in September as the outlook for business and consumer spending has improved.
  • A purchase of Atheros would be Qualcomm’s largest acquisition ever. Over the past year, Qualcomm, based in San Diego, has quietly sat on a pile of more than $10 billion in cash, while its rival Intel has gone on a buying spree. Last August alone, Intel spent nearly $10 billion acquiring McAfee, the antivirus software maker, as well as units of Texas Instruments and Infineon.
  • A transaction would continue a string of deals across the technology industry. Tech has been among the busiest sectors for deal activity as well, accounting for about 8 percent of mergers worldwide. Much of the action has been by big companies seeking to bolster their offerings in growing specialties like mobile devices.

No position