Cypress stock spikes on sale report

May 30, 2019 //By Peter Clarke
Cypress stock spikes on sale report
Cypress Semiconductor Corp. (San Jose, Calif.) is exploring a potential sale after receiving take-over interest, according to a Bloomberg report that references unnamed sources.

The company’s share price moved from about $15.5, where it had been trading during May, to over $17.0 on the news.

Cypress has called in financial advisors to help it with evaluating the possibilities, the report said, adding that no decision has been made and Cypress could remain independent.

Cypress CEO Hassane El-Khoury has been in post since August 2016 and in March this year spoke of continuing consolidation in the semiconductor industry and of his plan to make Cypress a consolidator rather than one of the consolidated (see CEO interview: Focus will make Cypress win and grow ). In the interview with eeNews Europe: "In five years' time Cypress will be much bigger – either because we have acquired or because we have been acquired."

Related links and articles:

www.cypress.com

News articles:

CEO interview: Focus will make Cypress win and grow

Cypress names new CEO: Hassane El-Khoury

Cypress to pay $550 million for Broadcom’s IoT business

Cypress and Spansion complete US$5 billion all-stock merger

SkyWater foundry formed from Cypress fab sale


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