NASDAQ Morning Mover: Spreadtrum Communications (NASDAQ: SPRD) Gains over 18% on News of Tsinghua Buyout Deal
New York, NY / Point Roberts, WA - June 21, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on the top percentage gainer on the NASDAQ for Friday morning trading. Spreadtrum Communications, Inc. (NASDAQ: SPRD), trading at $26.36, gaining $ 4.07 or 18.26% as of 10:30AM EDT on over 2.9 Million shares. The stock had a morning high of $26.68.
The stock moved following news Tsinghua Unigroup Ltd has made a non-binding offer to acquire Spreadtrum. (NASDAQ: SPRD) for $28.50 in cash per American Depositary Share.
About Tsinghua Unigroup Ltd.
Tsinghua Unigroup Ltd. ("Unigroup") is an operating subsidiary of Tsinghua Holdings Co. Ltd., a solely state-owned limited liability corporation funded by Tsinghua University in China. Tsinghua Holdings Co. Ltd. is the controlling shareholder of Unigroup. Unigroup's business lines include high-technology, bio-technology, science park development, and urban infrastructure construction.
About Spreadtrum Communications, Inc.
Spreadtrum Communications, Inc. (NASDAQ: SPRD) is a fabless semiconductor company that develops mobile chipset platforms for smartphones, feature phones and other consumer electronics products, supporting 2G, 3G and 4G wireless communications standards. Spreadtrum's solutions combine its highly integrated, power-efficient chipsets with customizable software and reference designs in a complete turnkey platform, enabling customers to achieve faster design cycles with a lower development cost. Spreadtrum's customers include global and China-based manufacturers developing mobile products for consumers in China and emerging markets around the world. For more information, visit www.Spreadtrum.com.
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