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

$90 million offer for MIPS Technologies

. 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.