Xilinx Soars 16% Premarket After Report AMD in Talks to Buy Co.

(Bloomberg) -- Xilinx shares jump 16% in U.S. premarket trading to $123 after reports overnight that Advanced Micro Devices is in advanced discussions to buy the company. AMD shares fell 2.6% premarket.

• A takeover could be d at $30 billion, according to people familiar with the matter
• A combination with Xilinx would give AMD more of the pieces needed to break Intel’s stranglehold on the profitable market for data-center computer components; Intel shares +0.4% premarket
• Chip stocks in Europe are outperforming after a positive update from NXP Semi and amid the consolidation talk

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