Chipmaker Analog Devices Inc has approached Maxim Integrated Products Inc on a possible combination, Bloomberg reported, citing sources.

Analog Devices’ shares rose 11.8 percent to $62.45 in late afternoon trading on Wednesday, while Maxim shares were up 9.8 percent.

Analog Devices and Maxim were not immediately available for comment.

(Reporting By Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila)

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