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(Reuters) – German chip maker Infineon Technologies AG is in the process of signing an agreement to buy Cypress Semiconductor Corp.
Infineon will pay between $ 23 and $ 24 per share for Cypress Semiconductor, Bloomberg reported, citing two people close to the case.
The offer represents a premium of about 50% since Bloomberg announced last week that Cypress Semiconductor was exploring options after receiving a takeover.
Infineon and Cypress Semiconductor were not immediately available for comment.
(This story corrects the syntax in the title)
(Report by Rishika Chatterjee in Bengaluru, edited by Rashmi Aich)
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