Android app on Google Play

Mellanox Technologies (MLNX) Ramps On $150/Share Takeover Report

July 26, 2012 8:59 AM EDT Send to a Friend
Recent momentum monster Mellanox Technologies, Ltd. (Nasdaq: MLNX) is higher in pre-open trading Thursday following reports from the Globes that the company rebuffed a $150/share, or $6 billion, takeover offer. The offer came at a 61 percent premium to yesterday's close.

The takeover offer came from either IBM (NYSE: IBM) or Oracle (Nasdaq: ORCL), the report stated.

At a conference call yesterday, the CEO said, ""We think that Mellanox should stay independent so long as it can continue to grow faster than it could as a unit of a buyer. Look what happened to VMware, which was sold to EMC for $600 million in 2004. What was a great deal at the time, is now worth almost $40 billion. A sale blocks future potential value."

Mellanox rocketed 42 percent on 7/19 following blow-out Q2 results.

Shares of MLNX last traded at $98.22, up 5.1 percent from the close.




You May Also Be Interested In


Related Categories

Momentum Movers, Rumors

Related Entities

Earnings

Add Your Comment