NEW YORK (AP) — Chipmaker Integrated Device Technology Inc. said Tuesday it is extending its tender offer for shares of PLX Technology Inc.
IDT's offer is now scheduled to expire July 12. The initial expiration date was June 20. IDT said 5.8 million shares of PLX, or about 13 percent of all outstanding shares, had been tendered in support of its offer as of Monday.
IDT agreed to buy PLX Technology in April for about $330 million in cash and stock.
Shares of Integrated Device Technology lost 4 cents to $5.41 Tuesday and PLX Technology shares declined 6 cents to $6.11.