Atmel shares jump after Reuters exclusive on ON deal

Reuters exclusively reported on October 29 that chipmaker ON Semiconductor Corp has reached out to private equity firms, including TPG, about a potential cash infusion to help fund the purchase of some assets of Atmel Corp. The Reuters story was picked up by New York Times` Dealbook and other blogs. Atmel shares rose 2 percent in extended trading after the Reuters headlines. A Wedbush Morgan analyst included details from the Reuters report in his research note. The following day, ON Semi shares fell 5.2 percent, while Atmel shares surged more than 11 percent.