Intel to buy DSP Communications for $1.6 billion

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Santa Clara, Calif.--Intel Corp. has agreed to acquire wireless telephone chip maker DSP Communications, Cupertino, Calif. The deal, valued at $1.6 billion, has Intel paying $36 in cash for each share of DSP, an $8 premium over DSP's Wednesday closing price of $28. Intel is the world's largest chip maker.
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