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STMicro Considering Bid for Nordic Semiconductor -Report

MILAN (Reuters) -Franco-Italian chipmaker STMicroelectronics is considering an offer for Nordic Semiconductor after preliminary talks with its Oslo-listed rival, Italian newspaper MF reported on Thursday.

Nordic Semiconductor sells wireless chips and devices designed for ultra-low power consumption, which are in turn used in a wide variety of electronics and computers, but does not itself manufacture the silicon wafers used in the products.

Nordic’s share price has risen by 52.6% so far this year amid a surge in global demand for semiconductors, giving it a market capitalisation of around $5 billion.

STMicroelectronics declined to comment on the report, while Nordic Semiconductor was not immediately available for comment.

Reporting by Giulio Piovaccari in Milan, Mathieu Rosemain in Paris and Terje Solsvik in Oslo; Editing by Agnieszka Flak and Alexander Smith

Source: Reuters


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