Tsinghua first offered $28.50 per ADS for the maker of wireless communications chips in late June. That sent Spreadtrum’s ADS to a 52-week high of $26.69, and the shares have traded at about that level ever since. The shares posted an all-time high of around $29 in November 2011.
Spreadtrum, which is based in China, is a developer of mobile chipsets for smartphones and other mobile devices. The company has supplier agreements with China Mobile Ltd. (NYSE: CHL), the world’s largest wireless company, European telecom giant Orange, and Facebook Inc. (NASDAQ: FB).
Tsinghua said there are no financing conditions to its offer. In its original offer in June Tsinghua said the all-cash offer may be financed by a combination of equity and debt. Today’s announcement does not indicate a closing date for the transaction.
Shares are trading at $30.18 in the premarket this morning, up 14%, and above the 52-week range of $14.50 to $26.69.
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.