Wunderlich Says CEVA Could Potentially Bid $115M for MIPS' Operating Unit
Wunderlich's Matthew Robison issued a research note this morning in response to CEVA's (NASDAQ: CEVA) $90 million offer for MIPS Technologies (NASDAQ: MIPS). Robison believes CEVA could potentially bid up to $115 million for MIPS' operating unit.
The Wunderlich analyst noted this would give $110 million to MIPS holders and $4.75 million to cover termination fees for Imagination Technologies.
Robison said the bidding process could be finished this week.
The firm rates CEVA shares at Buy with a $22 price target.
Latest Ratings for MIPS
|Oct 2012||Feltl and Company||Downgraded||Buy||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.