Acquisition talks between Xilinx (NASDAQ:XLNX) and target Mellanox (NASDAQ:MLNX) broke down last week with Mellanox pushing its asking price up to $6.7B, a 25% premium, according to Israeli media sources.
Mellanox was previously asking for $5.5B to $6B. But the company recently reported strong earnings, and there appears to be a bidding war happening between Xilinx and rumored suitors Intel, Microsoft, and Broadcom.
Mellanox appointed a new CFO last month, which had analysts questioning whether a sale was still a priority.
Mellanox shares are up 2.2% premarket and XLNX gains 0.7%.
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