November 7, 2018 / 6:43 PM / 11 days ago

Chipmaker Xilinx working with Barclays to buy Mellanox: CNBC

FILE PHOTO - A Xilinx sign is seen during the China International Import Expo (CIIE), at the National Exhibition and Convention Center in Shanghai, China November 6, 2018. REUTERS/Aly Song

(Reuters) - Xilinx Inc has hired Barclays to advise on a bid to buy Mellanox Technologies Ltd after approaching the smaller chipmaker with an offer, CNBC reported on Wednesday, citing people familiar with the matter.

A deal is not imminent and may not come together but if a transaction does happen, it is expected to be announced in December, the report here said.

According to the report, the deal could value Mellanox at more than $100 per share.

Up to Tuesday’s close, Mellanox had a market capitalization of $4.74 billion.

Shares of Mellanox rose 4.5 percent to $92.55, while Xilinx was down 1.2 percent at $84.92.

Xilinx did not respond to a request for comment, while Mellanox declined to comment.

Reporting by Akanksha Rana in Bengaluru; Editing by Maju Samuel

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