Tonight, there are rumors that Micro (MU) is about to get a $23 billion bid from China's Tsinghua Unigroup Ltd. MU closed at $17.61 on Monday with a market cap of $19 billion. If the rumors were true, the buyout offer is about 19% above where MU is trading right now.
The whole semiconductor industry is consolidating. INTC is buying ALTR. AVGO is buying BRCM. There has been rumors about MRVL being a takeover target.
Even at $21, MU looks cheap. I think MU could quickly trade up to $25 or $26. The semiconductor stocks have been really weak, and have been pulling back for three weeks! Investors will likely jump back into these stocks tomorrow. This should make things very interesting before INTC's earnings on Wednesday!
Good night and HappyTrading! ™