Intellon, Thin But Merger Bait (ITLN)

Posted in pre-market 
September 8th, 2009

Intellon Corp. (NASDAQ: ITLN) is soaring by 45% to $7.25 (after closing at $5.00 Friday).  This is on the report that Atheros will acquire Intellon in a cash and stock merger that is valued around $245 million, or $181 million net of Intellon’s cash and cash equivalents. Atheros sees the deal closing in Q4.  This is a thin volume stock that trades about 300,000 shares per day.

Comments are closed

-->