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Stats ChipPac shares surge as much as 17.8% amid takeover talks

Published on Jun 26, 2014 6:11 PM

SINGAPORE - Shares of Stats ChipPac surged as much as 17.8 per cent on Thursday amid renewed speculation that the firm might be bought over.

Trading was frenetic, with 59 million shares changing hands and eventually ending the day eight cents higher at 61.5 cents.

Talks about a takeover of the semiconductor packaging and testing services firm have been swirling around since mid-May, and pushed the stock from 33.5 cents on May 14 to 52.5 cents just three sessions later on May 19.

The firm had said then that it had received a "non-binding expression of interest" from a third party, with a view to a possible acquisition.

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