Infineon shares rally 7.4% on U.S. approval for Cypress deal
Reuters
Published Mar 10, 2020 07:51
Infineon shares rally 7.4% on U.S. approval for Cypress deal
BERLIN (Reuters) - Shares in Infineon Technologies (DE:IFXGn) rallied hard in early Tuesday trading after a U.S. national security review raised no concerns over its proposed $10 billion (7 billion pounds) takeover of Cypress Semiconductor Corp (O:CY).
Infineon shares were up 7.4%, retracing some ground lost since a report last week that the Committee on Foreign Investment in the United States (CFIUS) had advised President Donald Trump to block the deal on national security grounds.
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Written By: Reuters
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