Stock Alert: Cypress Semiconductor Shares Soar 46% After CFIUS Review

(RTTNews) - Shares of Cypress Semiconductor Corp. (CY) climbed 46% in after-hours trading session Monday, after the company announced that the Committee on Foreign Investment in the United States or CFIUS has cleared Infineon Technologies AG's $8.7 billion acquisition of Cypress Semiconductor.

Cypress said it has been informed by the CFIUS that the committee has determined that "there are no unresolved national security concerns with respect to the proposed merger." The merger remains subject to receipt of regulatory approval from China's State Administration for Market Regulation and other customary closing conditions under the merger agreement.

The stock has been trading between $14.57 and $23.55 in the past one year, and closed Monday's trade at $15.28, down $1.09 or 6.66%. In after-hours session, CY was up $7.07 or 46.37% to $22.35.