Texas Instruments’ $65 billion bid for National Semiconductor fired up semiconductor exchange traded funds (ETFs) in early trading Tuesday.

The nearly 80% premium for National Semiconductor helped push sector ETFs higher in morning action and fed hopes of more corporate deals.

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 funds rallied about 2% in the early going Tuesday.

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