Texas Instruments’ $65 billion deal for rival National Semiconductor announced late Monday was the latest M&A catalyst for a sector exchange traded fund (ETF).
The chip makers after the closing bell said the deal values National Semiconductor at a nearly 80% premium.
National Semiconductor is held by Semiconductor HOLDRS (AMEX: SMH), PowerShares Dynamic Semiconductors Portfolio (NYSEArca: PSI), SPDR S&P Semiconductor ETF (NYSEArca: XSD) and iShares PHLX SOX Semiconductor Sector Index Fund (NasdaqGM: SOXX). [The Future of Semiconductor ETFs.]
The sector ETFs rose in after hours trading Monday following the National Semiconductor deal announcement.
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