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Sierra Wireless Slides After Confirming Potential Discussion With Semtech

Sierra Wireless, Inc. (SWIR) shares are down more than 4 percent on Tuesday morning trade after the company confirmed its advanced discussions for a potential transaction with Semtech Corp. (SMTC) at $31 per share. The shares have reached a year-to-date high on Monday.

Currently, shares are at $28.31, down 4.68 percent from the previous close of $29.70 on a volume of 1,188,700.

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