Cypress Semiconductor Corporation (CY), a maker of chips for telecommunications, decides it will remain independent just two weeks after it suggested the entire company might be on the table for a merger or acquistion.
They determined a standalone strategy was best for its shareholders despite the fact that company stock has fallen 10 percent in Thursday morning trading.
Meanwhile a hedge fund, SAC Capital, acquired a large position in Cypress's stock reporting that they owned about 7.8 million Cypress shares, which is about 5.2 percent of the company.
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