(Reuters) – Cypress Semiconductor Corp. is exploring options including a possible sale, after receipt of the acquisition interest, Bloomberg reported on Wednesday, citing people familiar with the matter.
The company is working with advisers, the report said, adding no final decision has been taken and Cypress trees, could opt to remain independent.
Shares of the chipmaker rose nearly 12% on the news.
Cypress Semiconductor declined to comment.
Reporting by Arjuna Panchadar in Bengaluru; Editing by Shinjini Ganguli