ARM Holdings (ARMH) Up On 'Nonsensical' Apple Takeover Rumors
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Shares of ARM Holdings (Nasdaq: ARMH) are higher in pre-open trading on resurfaced rumors Apple (Nasdaq: AAPL) will takeover the company.
Shares are are 14% to $13.41, a new 52-week high.
Apple's iPhone and iPad are said to use chip technology from ARM Holdings.
While the market sees a deal, the company said it has not been approached and said a takeover from Apple would not make sense. From Reuters "A spokeswoman for ARM said the chip designer had not received an approach, and said a takeover from Apple would not make sense, reiterating comments made by its CEO Warren East in April and its President Tudor Brown last month."
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Shares are are 14% to $13.41, a new 52-week high.
Apple's iPhone and iPad are said to use chip technology from ARM Holdings.
While the market sees a deal, the company said it has not been approached and said a takeover from Apple would not make sense. From Reuters "A spokeswoman for ARM said the chip designer had not received an approach, and said a takeover from Apple would not make sense, reiterating comments made by its CEO Warren East in April and its President Tudor Brown last month."
Real-Time Market Moving News and Intelligence –Sign-Up Free Today
http://www.streetinsider.com/premium_content.php
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