On Air Now

Current Show

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 100.7 FM Terre Haute, IN

Weather

Current Conditions(Terre Haute,IN 47807)

More Weather »
45° Feels Like: 41°
Wind: E 8 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 63°

Tonight

Cloudy 45°

Tomorrow

Partly Cloudy 73°

Alerts

KKR reports stake in chipmaker Marvell

(Reuters) - Private equity firm KKR & Co LLP has reported a 6.8 percent stake in chipmaker Marvell Technology Group Ltd, according to a regulatory filing.

Marvell's shares rose about 5 percent in extended trading after closing at $13.76 on the Nasdaq on Monday.

KKR also said the firm may engage in discussions with the board and the company's management that may include a merger or reorganization of the business.

Marvell, which sells chips to flash drive and mobile and wireless device makers, in November forecast fourth-quarter revenue above analysts' estimates.

About 47 percent of Marvell's revenue last year came from storage customers such as Western Digital Corp and Seagate Technology, for whom it makes chips used for reading and writing data on hard-disk and flash drives.

(Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)

Comments