Integrated Device Technology (IDTI) acquires PLX Technology (PLXT) for around $330M as the...

|About: Integrated Device Technolog... (IDTI)|By:, SA News Editor

Integrated Device Technology (IDTI) acquires PLX Technology (PLXT) for around $330M as the manufacturer of semiconductor products looks to enhance its product portfolio. PLXT shareholders will receive $3.50 in cash and 0.525 shares of IDTI for each share outstanding. That values PLXT at around $7 a share, a 76% premium to today's close. PLXT +65.7%, IDTI -6.9% AH. (PR)