U.S. tech company Xilinx Inc aiming to buy Mellanox Technologies Ltd

If the deal comes through, it is likely to be announced sometime in December 2018.

As reported by CNBC citing sources familiar with the matter at hand, American technology company Xilinx Inc has hired Barclays to advise on its bid to acquire Mellanox Technologies Ltd.

Although a deal is not expected to fruition in the immediate future, however, it it comes about it is expected to be announced in December, said CNBC’s report.

The potential deal could value Mellanox at more than $100 per share.

As of Tuesday’s close, Mellanox had a market capitalization of $4.74 billion.

With the news reaching the market, Mellanox’s shares rose by 4.5% to $92.55; shares of Xilinx were down by 1.2% to $84.92.

While Mellanox declined to comment, Xilinx did not respond to a request for comments.

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