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Tech Trader Daily
News, analysis and insights from Barron’s Silicon Valley bureau.
- September 8, 2010, 8:42 AM ET
Zoran To Buy Microtune For $2.92/Shr In Cash; $166 Million
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By Eric Savitz
Zoran (ZRAN) this morning said it has agreed to acquire Microtune (TUNE) for $2.92 a share in cash, for a total price of $166 million, or $84 million net of cash acquired. Zoran expects the deal to be accretive immediately on closing, which is expected in the fourth quarter.
Microtune makes silicon tuners used in cable set-top boxes, cable modems, digital TVs and other applications.
In pre-market trading, TUNE is up 43 cents, or 17.4%, to $2.90.
Regards,
Don
