Reuters: Global Markets: MIPS Technologies shares surge on sale report

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MIPS Technologies shares surge on sale report Apr 12th 2012, 18:48 Thu Apr 12, 2012 2:48pm EDT (Reuters) - Shares of MIPS Technologies Inc (MIPS.O) rose 25 percent in afternoon trading after Bloomberg reported that the company has hired Goldman Sachs to pursue a potential sale. The company, which designs chips and processors and license them out to chipmakers, is looking for a buyer and expects Goldman to help it negotiate a potential sale, the report said citing unnamed sources. When contacted, a MIPS spokeswoman said the company does not respond to market rumors. Shares of the company, which has a market capitalization of $276.7 million, were up 24 percent at $6.42 on the Nasdaq. (Reporting by Himank Sharma in Bangalore; Editing by Unnikrishnan Nair)

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