Brief
Mellanox Considers Sale, Says CNBC Report
Mellanox published its preliminary third-quarter results for 2018, reporting its fifth consecutive quarter of record results
09:4526.10.18
Nasdaq-listed Israeli chipmaker Mellanox Technologies Ltd. has contracted a financial adviser to consider its sale in response to takeover interest, CNBC reported Wednesday. The talks are still in the early stages, according to CNBC.
Eyal Waldman. Photo: Tomi Harpaz
Mellanox develops and manufactures chips for communication networks in data centers. The company recently settled a boardroom struggle for control with Starboard Value LP, an activist investor that acquired a 10.7% stake in Mellanox in November and immediately launched a campaign against the company’s management, pushing for extensive operational and administrative changes. On Wednesday, Mellanox published its preliminary third-quarter earnings for 2018, reporting its fifth consecutive quarter of record results.
Mellanox is currently up as much as 12.68% on Nasdaq in after-hours trading. The company was up 10.29% on Wednesday market close.
