Chip maker Maxim Integrated Products Inc. fell in the extended session Monday after Japan-based Renesas Electronics Corp. denied that is in discussions to buy Maxim for close to $20 billion. Maxim stock closed up 12.3% in the regular session, but fell 8.3% after hours to $60.75, following Renesas’ denial. Earlier Monday, CNBC reported that Renesas was in talks with Maxim. Maxim stock is up 62% this year, as the S&P 500 index has gained 25%.
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