IPO Stock Watch: Montage Technology To Be Acquired
Montage Technology Group (MONT) stock jumped 8.7% in heavy trading Wednesday, closing at 21.49, on news that the Chinese chipmaker is being acquired by the state-owned Shanghai Pudong Science and Technology Investment Co. for $22.60 a share, or $693 million. Montage, which sells to the entertainment and cloud-computing markets, priced at 10 in its Sept. 25 IPO and hit a high of 26.70 on Jan. 17. Since then, however, it has been accused of