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Electronics Production | September 28, 2006

"STMicro next Chipmaker targeted for buyout"

According to traders betting on the creditworthiness of companies, STMicroelectronics may be the next chipmaker targeted for a buyout.

The perceived risk of owning STMicroelectronics' $1.6 billion of bonds has risen 29 percent in the past week to its highest in six months, Bloomberg reports. According to Olli Rouhiainen, an analyst at Standard & Poor "STM would be a bigger buyout than Freescale or NXP, but in this day and age any company can be bought, ratings will suffer when leverage rises.''
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