STMicroelectronics (STM) Higher on Takeover Chatter
STMicroelectronics NV (NYSE: STM) is 4% higher early Thursday on rumors the company could be the target of a takeover. In a recent research report, Merrill Lynch said the company could be an ideal takeover target following recent private equity buyouts of Freescale Semiconductor (NYSE: FSL) and the chipmaking unit of Philips Electronics, NXP.
STMicroelectronics is a global leader in developing and delivering a range of semiconductor solutions. ST is the world’s fifth largest semiconductor company and has leading positions in sales of Analog Products, Analog Application Specific Integrated Circuits and Analog Application Specific Standard Products. ST is also number one in camera modules for mobile phones, number two in discretes and analog, and number three in NOR Flash, as well as in the application segments of Automotive, Industrial, and Wireless. ST is also the leading supplier of semiconductors for set-top boxes and power management devices. Furthermore, ST was the 3rd biggest semiconductor supplier in China in 2005.