Texas Instrument Inc. (NYSE: TXN), the second largest U.S. chipmaker, has agreed to buy National Semiconductor Corp. (NYSE: NSM) for about $6.5 billion. This feat will be the company's biggest acquisition, extending its lead in analog semiconductors.
Shares closed at $14.07 but National Semiconductor shareholders will get a nice premium of $25. The boards of directors of both companies have approved the transaction. Each company has unique strengths and will be forming an industry giant of marketshare, products, specs, and excellent customer design tools. This news just came public fifteen minutes ago in market after hours. Like I've made note of in previous blogs a company that is taken over is a valuable stock. NSM shares are up 101.8 points or 72% and TXN is down 2%. Very interesting consuming move by Texas Instrument and big news in the industry.
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