Posted AT 8:45 AM EDT on 22/07/06
AMD planning ATI bid, sources say
Chip maker Advanced Micro Devices Inc. is considering a $5.6-billion (U.S.) takeover bid for ATI Technologies Inc., a leading manufacturer of computer graphics chips, sources say.
ATI stock is rising today on rumours that AMD will make a friendly offer of between $21 and $23 as early as next week.
The board of directors at Sunnyvale, California-based AMD have approved a takeover offer, according to an investment banker familiar with the talks.
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