- Sigma Designs, Inc. stock price today and history
Sigma Designs, Inc. (SIGM) stock prices updated...
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Sigma Designs, Inc. stock price
Sigma Designs, Inc. latest news:
Why Shares of Sigma Designs Slumped Today
The company is no longer being acquired. Instead, it will sell off its core business and liquidate the rest.
Sigma Designs to liquidate after failing to achieve Silicon Labs merger conditions
Sigma Designs Inc. said Tuesday it would sell one of its businesses to Silicon Labs Inc. and then liquidate, after failing to meet conditions of a full merger. Silicon Labs had agreed to acquire the Fremont, Calif., chip maker for $7.05 a share late last year, but said Tuesday that initial closing conditions for that deal could not be met. Instead, Sigma will sell its Z-Wave home-automation business to Silicon Labs for $240 million and enter liquidation proceedings with the goal of returning cash to shareholders. Sigma will look to sell or wind down other segments within the next year - for instance, Sigma said it would lay off nearly 300 of 416 employees in its smart-television and set-top box businesses. Sigma shares were halted ahead of the announcement Tuesday afternoon, while Silicon Labs stock was quiet in late trading after closing at an all-time high of $99.80.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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