ATI Technologies Acquired by AMD

The graphic chip making company ATI Technologies (ATYT) will be acquired by Intel’s (INTC) archrival Advanced Micro Devices (AMD) very soon according to a Reuters report for a price tag of $5.4 billion. This works out to a premium of 28.57% on Friday’s closing price of $16.56 and market cap of $4.2 billion and would translate into a bid of around $21.29 per share. The stock jumped up another 9.12% to $18.07 in after hours trading on Friday.

ATYT 1-yr chart: