(Reuters) – Cypress Semiconductor Corp is exploring options, including a potential sale, after receiving takeover interest, Bloomberg reported on Wednesday, citing people familiar with the matter.
The company is working with advisers, the report said, adding no final decision has been made and Cypress could opt to remain independent.
Shares of the chipmaker rose nearly 12% on the news.
Cypress Semiconductor declined to comment.
Reporting by Arjun Panchadar in Bengaluru; Editing by Shinjini Ganguli