Imagination Technologies Outbids CEVA for MIPS Technologies

Before you go, we thought you'd like these...
Before you go close icon

On Monday, MIPS Technologies announced it has agreed to be acquired by Imagination Technologies Group for $100 million.

MIPS had previously agreed to a merger with Imagination for a lower price in a deal announced Nov. 5, but CEVA subsequently trumped Imagination's offer with a Dec. 12 offer of $90 million. Imagination's response -- now accepted by MIPS in an amended merger agreement -- was to offer $7.94 per share, raising its bid to an even $100 million, and appears to have knocked CEVA out of the bidding.

MIPS shares closed at $7.81 per share Monday, up 0.5% on the news.

The article Imagination Technologies Outbids CEVA for MIPS Technologies originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners