Shares of Silicon Laboratories Inc. (SLAB) soared on Wednesday after Texas Instruments Inc. (TXN) agreed to acquire the company in an all-cash deal valued at about $7.5 billion.
The stock is currently trading at $205.05, up $68.43 or 50.09%, on the Nasdaq. The stock opened at $205.29 after closing Tuesday at $136.62. The stock has traded between $82.82 and $207.50 in the past 52-week period. Trading volume spiked to 2.8 million shares, sharply above average, following the announcement.
Under the terms of the definitive agreement, Silicon Labs shareholders will receive $231 per share in cash, representing a significant premium to the prior close. The transaction is expected to close in the first half of 2027, subject to regulatory approvals and customary closing conditions.
The rally also comes as Silicon Labs reported improved fourth-quarter performance, with revenue rising 25% year over year to $208.2 million. The company posted a narrower net loss of $2.68 million, or $0.08 per share, compared with a loss of $23.82 million, or $0.73 per share, a year earlier.
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