Silicon Labs Soars on Report That Texas Instruments Is Suitor

Silicon Laboratories Inc. shares surged more than 35% in late trading on a report that Texas Instruments Inc. is in talks to acquire the chip company.

Discussions have reached an advanced stage and a deal could be hammered out in the coming days, according to the Financial Times, which cited unidentified people familiar with the situation.

The transaction is likely to value Silicon Labs at about $7 billion, the newspaper said, well above its $4.5 billion closing price on Tuesday.

Representatives for Texas Instruments and Silicon Labs didn’t immediately respond to requests for comment.

--With assistance from Ian King and ...