By Matt Grossman
Advanced Micro Devices Inc. shares and Xilinx Inc. shares moved in opposite directions Friday morning following a Wall Street Journal report that AMD was in advanced talks to buy Xilinx.
In premarket trading, Xilinx shares rose 17.27% to $124.29, while AMD shares declined 4.7% to $82.
AMD's potential acquisition of rival chip maker Xilinx could be valued at more than $30 billion, the Journal reported. The deal could come together next week, but there is no guarantee of an agreement, people familiar with the matter told the Journal.
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(END) Dow Jones Newswires