Stock Alert: Xilinx Hits New 52-week High On Acquisition By AMD

(RTTNews) - Shares of Xilinx Inc. (XLNX) are rising more than 10 percent or $11.65 in Tuesday's morning trade at $126.20, after touching a new 52-week high of $130.40.

Tuesday, Advanced Micro Devices Inc. (AMD) said it has entered into a definitive agreement to buy rival chip maker Xilinx in an all-stock transaction valued at $35 billion.

As per the deal, Xilinx stockholders will receive a fixed exchange ratio of 1.7234 shares of AMD common stock for each share of Xilinx common stock they hold at the closing of the transaction. This represents about $143 per share of Xilinx common stock. The transaction is expected to close by the end of calendar year 2021.

Xilinx has traded in a range of $67.68 to $130.40 in the past 52 weeks.