Shares of Linear Technology Corp. shot up $14.02, or 29%, to the highest level in over 15 years in afternoon trade Tuesday, prior to a trading halt for news pending, after Bloomberg reported that the the chip equipment maker was in talks to be acquired by Analog Devices Inc. . Linear’s stock surge is on track to be the biggest one-day price and percentage gain since it went public in May 1986. The stock is headed for the highest close since Feb. 15, 2001. Bloomberg reported, citing people familiar with the matter, that a deal could be announced as soon as Tuesday. Analog Devices’ stock surged 3.9% prior to a trading halt. At the last prices traded, Linear Technology had a market capitalization of $14.94 billion, according to FactSet, while Analog Devices’ market cap was $19.32 billion.
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