Lattice shares soar after China'south Tsinghua reports buying stake

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Source:   —  April 13, 2016, at 7:23 PM

S. chip manufacturer soaring eighteen % on speculation of a possible acquisition. The move is the latest sign of Tsinghua'south desire to be a portion of the U.

n">China'south Tsinghua Unigroup unveiled a roughly six % stake in Lattice Semiconductor Corp () on Wednesday, sending shares of the U. S. chip manufacturer soaring eighteen % on speculation of a possible acquisition.

The move is the latest sign of Tsinghua'south desire to be a portion of the U. S. semiconductor industry after it scrapped plans to acquire Micron Technology Inc () and invest in Western Digital Corp ().

Tsinghua said in a regulatory filing its stake in Lattice was for "investment purposes," but that it may also enter into discussions with management about a "possible commercial agreement." It added that it could purchase more shares or sell its stake.

Reuters reported exclusively in Feb that Lattice had attracted interest from an unidentified Chinese buyer and had decided to examine a sale.

Based in Portland, Oregon, Lattice makes programmable logic chips and related software used in a variety of items from smartphones to cars.

Its shares rose ninety-nine cents to $6.36, giving it a market capitalization of roughly $740 million.

One of Tsinghua'south divisions, Unisplendour, scrapped a $3.78 billion minority investment in U. S. hard-disk maker Western Digital Corp () earlier this year after the U. S. Committee on Foreign Investment, which scrutinizes deals for potential national security concerns, decided to review the transaction. It also looked at acquiring Micron Technology last year.

In two thousand-twelfth, Chinese nationals were arrested for attempting to smuggle out dual-use programmable logic devices made by Lattice.

Chinese companies and funds have been increasingly bidding on overseas semiconductor companies to construct up China'south domestic chip industry. Earlier in April, a Shanghai-based fund, National Silicon Industry Group, made a takeover tender for Finland'south Okmetic (), a maker of silicon wafers.

(Reporting by Liana B. Baker in New York; Editing by Jeffrey Benkoe)

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