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.

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